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CONSOLIDATED  MORTGAGE. 


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M.  i  ■ 


Dated  November  1st,  1880 


— 

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CWAS.  A.  SCARING,  STATIONER, 
30  &  AO  EXCHANGE  PLACE- 
NEW  YORK.  I 


LI 


AS  TRUS  TEE. 


CONSOLIDATED  MORTGAGE. 


Dated  November  1st,  1889. 


New  York  : 

Chas.  A.  Searing,  Stationer,  38  and  40  Exchange  Place. 


4889. 


The  Oregon  Improvement  Company 

TO 

The  Farmers’  Loan  and  Trust  Company. 


CONSOLIDATED  MORTGAGE. 


©his  fndmtuw,  made  the  first  day  of  November, 
in  the  year  of  our  Lord  one  thousand  eight  hundred  and 
eighty-nine,  between  The  Oregon  Improvement  Com¬ 
pany,  a  body  corporate  created,  organized,  and  existing 
under  and  by  virtue  of  the  laws  of  the  State  of  Oregon, 
party  of  the  first  part,  and  The  Farmers’  Loan  and 
Trust  Company,  a  body  corporate,  created,  organized, 
and  existing  under  and  by  virtue  of  laws  of  the  State  of 
New  York,  party  of  the  second  part. 


Whereas,  the  objects  and  business  of  the  said  party 
of  the  first  part,  by  virtue  of  its  original  and  amended 
Articles  of  Incorporation,  and  by  virtue  of  the  laws  of 
said  State  of  Oregon,  are  as  follows  : 


QJ 


First. — To  contract  for  the  construction  and  equip¬ 
ment,  and  to  construct  and  equip,  railroads  and  telegraph 
r  lines,  military  roads,  canals,  docks,  locks,  bridges,  and 
other  public  works  ;  to  receive  payment  therefor  in  cash 
or  in  stocks,  shares,  bonds,  or  other  securities  ;  and  to 
yn  maintain  and  operate  such  railroads  and  other  works 
during  construction  and  until  completion  and  transfer 


2 


thereof  to  the  contracting  company,  carry  freight  and 
passengers,  and  receive  tolls  for  same. 

Second. — To  lease  and  operate  and  maintain,  on  sncli 
terms  as  may  be  agreed  upon,  any  railroad  or  railroads, 
with  its  or  their  rolling  stock,  equipments,  or  appurte¬ 
nances,  or  any  military  road,  steamship  or  steamboat 
line,  canal,  dock,  locks,  bridge,  or  other  public  work. 

Third. — To  promote  or  facilitate  and  assist  the  con¬ 
struction,  building,  extension,  equipment,  or  operation 
of  any  railroad  line,  steamship  line  or  steamboat  line, 
and  the  formation  of  any  companies  for  such  purposes, 
or  for  mining  or  working  coal  or  iron,  or  for  the  im¬ 
provement  of  real  estate,  and  for  such  purpose  to  sub¬ 
scribe  for  or  purchase  the  stocks  or  bonds  of  any  such 
company,  or  to  guarantee  or  otherwise  secure  the  pay¬ 
ment  of  any  such  bonds,  or  the  interest  thereon,  or  the 
payment  of  dividends  on  any  such  stocks  by  pledge  or 
mortgage  of  the  property  of  this  corporation,  or  any 
part  thereof,  or  otherwise. 

Fourth. — To  build,  purchase,  and  own  and  run 
steamships  between  the  ports  of  Portland,  Astoria, 
Seattle,  Victoria,  Sitka,  San  Francisco,  or  any  other 
ports  of  the  North  Pacific  Ocean,  and  steamboats  on  the 
Columbia,  Willamette,  and  Snake  Rivers,  and  on  Puget 
Sound,  and  also  to  build,  purchase,  and  own  docks, 
piers,  warehouses,  locks,  ferryboats,  stages,  and  other 
means  of  transportation. 

Fifth. — To  buy  and  sell  stocks,  bonds  and  shares, 
lend  money  on  any  real  or  personal  security,  negotiate 
loans,  and  transact  any  other  business  usually  trans¬ 
acted  by  a  credit  or  finance  company. 

Sixth. — To  buy  and  sell  iron,  ties,  locomotives,  cars 
and  any  and  all  other  railroad  supplies  and  materials. 


# 


3 


Seventh. — To  purchase,  acquire,  rent,  hold,  drain, 
improve,  cultivate,  lease,  mortgage,  sell,  convey  and 
dispose  of  inqoroved  and  unimproved  lands,  and  town 
and  city  lots  and  property. 

Eighth. — To  erect,  construct  and  maintain  buildings 
upon  its  own  property  or  leased  property,  for  stores, 
offices,  dwelling-houses,  warehouses,  shops,  factories, 
mills  and  every  other  lawful  purpose. 

Ninth. — To  purchase,  acquire,  hold,  open,  develop, 
work,  lease,  mortgage,  sell,  convey  and  dispose  of  gold, 
silver,  iron,  coal,  copper  and  other  mines. 

Tenth. — To  build,  construct  and  maintain  in  repair 
streets  and  roads,  railroads  and  street  railroads,  ad¬ 
jacent  to  or  leading  to  and  from  its  property. 

Eleventh. — To  borrow  money  on  bonds,  notes,  de¬ 
bentures  or  otherwise,  and  to  mortgage  all  or  any  of  its 
property,  real  or  personal,  to  secure  payment  of  the 
same. 

Twelfth.  —To  loan  money  upon  personal  or  real 
estate  security  and  to  take  mortgages  upon  real  or  per¬ 
sonal  property  to  secure  loans  made  by  it. 

Thirteenth. — To  obtain  the  necessary  charters  or 
other  authorization  to  enable  the  company  to  carry  on 
business  in  any  part  of  the  United  States  and  in  the 
Dominion  of  Canada. 

Fourteenth. — To  construct  and  equip  a  railroad  and 
telegraph  line  from  some  point  upon  the  Columbia 
RiVer  at  or  near  the  town  of  Umatilla,  in  Umatilla 
County,  in  the  State  of  Oregon,  by  the  most  practicable 
route  over  the  Blue  Mountains  to  Baker  City,  in  Baker 
County,  Oregon,  and  to  maintain  and  operate  such  rail- 


4 


road  and  telegraph  line,  transmit  messages  over  its 
telegraph  line  and  receive  compensation  therefor,  and 
carry  freight  and  passengers  over  its  railroad  and  re¬ 
ceive  tolls  therefor. 

Fifteenth. — To  purchase,  acquire,  hold,  maintain, 
and  operate,  on  such  terms  as  may  be  agreed  upon,  the 
railroad,  rolling  stock,  equipment,  and  appurtenances 
of  any  railroad  or  railroads,  telegraph  line  or  telegraph 
lines,  now  constructed,  or  which  may  hereafter  be 
constructed,  in  the  State  of  Oregon  or  Washington 
Territory. 

And,  lastly,  generally  to  do  and  perform  every¬ 
thing  necessary,  proper  or  convenient  to  carry  into 
effect  the  objects  aforesaid. 

And  Whereas,  the  party  of  the  first  part,  on  or 
about  the  ffrst  day  of  December,  a.  d.  1880,  duly  made, 
executed  and  delivered  its  certain  First  Mortgage,  bear¬ 
ing  date  on  said  last  mentioned  date,  to  the  Farmers’ 
Loan  and  Trust  Company  (of  New  York),  as  Trustee, 
to  secure  the  payment  of  the  principal  and  interest  and 
the  sinking  fund  payments  of  its  certain  First  Mortgage 
Bonds,  five  thousand  in  number,  for  one  thousand  dol¬ 
lars  each,  amounting  in  the  aggregate  to  five  million 
dollars,  as  provided  for  and  required  by  the  terms  and 
provisions  of  said  First  Mortgage,  of  which  said  five 
thousand  bonds,  four  hundred  and  eighty-six,  amount¬ 
ing  to  four  hundred  and  eight-six  thousand  dollars, 
have  been  redeemed  and  cancelled  by  operation  of  the 
sinking  fund  provisions  of  said  First  Mortgage  and  the 
remainder  of  said  bonds,  four  thousand  five  hundred 
and  fourteen  in  number,  and  four  million  five  hundred 
and  fourteen  thousand  dollars  in  amount,  are  now  out¬ 
standing  and  are  held  for  value  by  sundry  persons, 
firms  and  corporations  ; 

And  Whereas,  all  said  four  thousand  five  hundred 


4 


5 


and  fourteen  First  Mortgage  Bonds  are  subject  to  pay¬ 
ment  and  redemption  by  the  party  of  the  first  part,  at 
not  exceeding  one  thousand  and  sixty  dollars  per  bond, 
pursuant  to  the  terms  and  provisions  of  said  First 
Mortgage  ; 

And  whereas,  since  the  making,  issuing  and  deliv¬ 
ery  of  the  First  Mortgage  and  the  said  bonds  secured 
thereby,  the  party  of  the  first  part  has  purchased  and 
acquired,  and  now  owns  and  is  possessed  of  real  and  per¬ 
sonal  property  of  great  value,  which,  with  the  real  and 
personal  property  owned  and  possessed  by  the  party  of 
the  first  part  at  the  time  of  the  making,  issuing  and  de¬ 
livery  of  said  First  Mortgage  and  the  said  bonds  secured 
thereby,  is  more  particularly  designated,  referred  to  and 
described  in  the  schedule  hereto  annexed  and  hereby  in¬ 
corporated  into  and  made  a  part  hereof  ; 

And  whereas,  the  party  of  the  first  part,  subse¬ 
quently  and  on  or  about  March  1st,  1888,  duly  author¬ 
ized  and  created  an  issue  of  its  Preferred  Stock  to  the 
nmount  of  twenty  thousand  shares  of  the  par  value  of 
one  hundred  dollars  per  share,  which  said  shares  of  Pre¬ 
ferred  Stock  are  entitled  to  all  the  privileges  and  rights 
of  its  Common  Stock,  and  in  addition  thereto  is  entitled 
to  such  dividends  as  the  net  earnings  of  the  Company 
each  fiscal  year  shall  suffice  to  pay,  not  exceeding  seven 
per  cent,  per  annum,  before  any  dividend  is  paid  to  the 
Common  Stock,  of  which  said  issue  of  Preferred  Stock, 
twenty  thousand  shares,  of  the  par  value  of  two  million 
dollars  have  been  issued  by  the  Company  and  are  now 
outstanding  ; 

And  whereas,  the  party  of  the  first  part  is  indebted 
to  sundry  persons,  firms  and  corporations  for  unpaid 
balances  of  the  purchase  price  of  some  of  the  property 
designated  and  described  in  said  schedule,  or  for  mon¬ 
eys  borrowed  for  the  purpose  of  paying  said  purchase 


6 


price,  and  lias  contracted  for  the  purchase  or  acquisition 
of  other  property  necessary  and  proper  for  the  general 
purposes  of  the  Company  and  for  the  further  prosecu* 
tion  of  its  objects  and  business  ; 

A nd  whereas,  the  party  of  the  first  part  deems  it 
desirable  and  expedient  to  provide  for  the  conversion,, 
consolidation  and  funding  of  all  its  said  indebtedness  and 
the  said  outstanding  shares  of  its  Preferred  Stock  into  an 
issue  of  Consolidated  Mortgage  Bonds,  and  has  resolved 
so  to  do,  and  has  also  resolved  to  provide  means  for  the 
general  purposes  of  the  Company  and  for  the  further 
prosecution  of  its  objects  and  business  ; 

A xd  whereas,  the  Board  of  Directors  of  The  Ore¬ 
gon  Improvement  Company,  party  of  the  first  part,  at 
a  meeting  thereof,  duly  and  legally  called  and  held  at  the 
office  of  the  Company  at  Portland,  Oregon,  on  the  4th 
day  of  November,  a.  d.  1889,  did  resolve,  for  the  afore 
said  purposes,  in  substance  and  legal  effect  that  it,  the 
party  of  the  first  part,  make,  issue  and  deliver  its  certain 
bonds  for  fifteen  million  dollars,  bearing  date  the  first  day 
of  October,  1889,  payable  to  The  Farmers’  Loan  and 
Trust  Company,  or  bearer,  in  New  York,  in  gold  coin  of 
the  United  States  of  the  present  standard  of  weight  and 
fineness,  on  the  first  day  of  October  1939,  with  interest 
from  and  after  said  first  day  of  October,  1889,  at  the 
rate  of  five  per  cent,  per  annum,  payable  in  like  gold 
coin,  semi-annually,  on  the  first  days  of  April  and  Octo¬ 
ber,  in  each  year,  until  the  payment  of  the  principal  of 
said  bonds,  respectively  ; 

And  whereas,  said  Board  of  Directors,  did  at  said 

meeting  resolve  further,  in  substance  and  legal  effect,, 

that  said  The  Oregon  Improvement  Company  make, 

execute  and  deliver  to  The  Farmers’  Loan  and  Trust 

% 

Company,  party  of  the  second  part,  a  mortgage  or  deed 
of  trust,  under  the  corporate  seal  of  said  party  of  the 


7 


first  part,  granting,  conveying,  transferring  and  assign¬ 
ing  to  the  party  of  the  second  part,  as  Trustee,  and  to  its 
successor  or  successors,  in  trust ,  all  its  corporate  prop¬ 
erty,  real  and  personal,  of  every  nature  and  description, 
by  it  now  owned  or  acquired,  or  which  shall  be  hereafter 
owned  or  acquired,  together  wTith  its  franchises,  as  secur¬ 
ity  for  the  payment  of  the  principal  and  interest  of  each 
and  every  of  said  bonds,  subject  and  subordinate  only 
to  the  said  First  Mortgage  to  The  Farmers’  Loan  and 
Trust  Company,  and  to  the  lien  thereof  ;  and  that  said 
Mortgage  or  Deed  of  Trust  should  bear  date  the  first  day 
of  November,  1889  ; 

And  whereas,  said  fifteen  million  dollars  of  bonds, 
together  with  the  interest  warrants  or  coupons  in  repre¬ 
sentation  of  the  semi-annual  interest  to  grow  due  thereon, 
have  been  duly  authorized  by  The  Oregon  Improve¬ 
ment  Company  to  be  made,  executed  and  delivered  to 
The  Farmers’  Loan  and  Trust  Company,  as  Trustee, 
and  to  be  by  it  certified,  issued,  delivered  or  negotiated, 
as  provided  in  the  Fourth  Article  hereof,  and  not  other¬ 
wise  ;  the  said  bonds,  the  certification  thereof,  and  the 
interest  warrants  or  coupons  thereof  to  be  in  the  follow¬ 
ing  form,  viz.  : 

Consolidated  Mortgage  Bond 

of  THE 

Oregon  Improvement  Company. 

No.  *  $1,000. 

Entire  Issue  limited  to  $15,000,000. 

The  Oregon  Improvement  Company,  a  body  cor¬ 
porate,  created,  organized  and  existing  under  and  pur¬ 
suant  to  the  laws  of  the  State  of  Oregon,  promises  to 
pay  to  The  Farmers’  Loan  and  Trust  Company  (of 


8 


New  York),  or  bearer,  at  its  agency  in  New  York, 
the  sum  of  one  thousand  dollars  in  gold  coin  of 
the  United  States  of  the  present  standard  of  weight 
and  fineness,  on  the  first  day  of  October,  a.  d.  1939, 
and  interest  thereon  in  the  meantime  and  until  the 
payment  of  this  bond  at  the  rate  of  five  per  cent,  per 
annum,  payable  at  the  office  of  the  Company  in  New 
York,  in  like  gold  coin,  semi-annually,  namely,  on  the 
first  days  of  April  and  October,  in  each  year,  upon  pres¬ 
entation  and  surrender  of  the  annexed  coupons  therefor 
as  they  severally  mature. 

Payment  of  the  principal  and  interest  of  this  bond, 
and  of  the  other  bonds  of  the  same  series,  not  exceeding 
the  aggregate  par  value  of  $15,000,000,  is  secured  by  a 
Mortgage  or  Deed  of  Trust,  dated  November  1,  1889,  to 
The  Farmers7  Loan  and  Trust  Company,  as  Trustee, 
for  the  equal  benefit  and  security  of  each  and  every 
holder  of  said  bonds,  granting,  conveying,  transferring 
and  assigning  to  said  Trust  Company  and  its  successoi  s 
in  said  trust,  all  the  corporate  property  real  and  per¬ 
sonal,  and  of  every  nature  and  description,  of  the 
obligor,  now  owned  or  acquired,  or  hereafter  owned  or 
acquired  by  it,  together  with  its  franchises,  upon  the 
terms  and  conditions  therein  recited,  but  subject  and  sub¬ 
ordinate  to  a  certain  prior  mortgage,  dated  December 
1st,  1880,  to  The  Farmers’  Loan  and  Trust  Company, 
and  to  the  lien  thereof. 

This  bond  is  not  valid  or  obligatory  for  any  purpose 
unless  duly  authenticated  by  the  execution  of  the  certi¬ 
ficate  of  said  Trust  Company  endorsed  hereon. 

In  witness  whereof,  The  Oregon  Improvement  Com- 
pany  has  hereunto  affixed  its  corporate  seal  and  caused 


9 


this  bond  to  be  signed  by  its  President  and  Assistant 
Secretary  this  first  day  of  October,  1889. 


President, 


Assistant  Secretary. 

4/ 


Form  of  Coupon. 

$25.  No. 

The  Oregon  Improvement  Company  promises  to 
pay  the  bearer  on  first  at 

its  office  in  New  York,  twenty-five  dollars  interest  due 
that  day  on  its  consolidated  mortgage  bond  No. 


Treasurer. 


Certificate  of  Trustee. 

The  Farmers’  Loan  and  Trust  Company  hereby  certi¬ 
fies  that  this  bond  is  one  of  the  bonds  mentioned  in  the 
within  described  mortgage. 

The  Farmers’  Loan  and  Trust  Company, 

Trustee. 

By 


Vice-President. 


This  bond  may  be  registered  in  the  holders’  name  on 
the  books  of  the  Oregon  Improvement  Company,  and 
such  registry  shall  be  noted  on  the  bond,  after  which  no 
transfer  shall  be  effectual  unless  it  shall  be  made  on  the 
Company’s  books  and  noted  on  the  bond,  but  the  same 
may  be  discharged  from  registry  by  being  so  transferred 
to  bearer,  after  which  it  shall  be  transferable  by  deliv¬ 
ery,  but  may  be  again  and  from  time  to  time  registered 
as  before.  The  transfer  of  the  coupons  by  delivery  shall 
not  be  affected  by  the  registry  of  the  bond. 

NOW  THEREFORE  THIS  INDENTURE  WITNESSETH: 

That  said  party  of  the  first  part,  in  consideration  of 
the  jjremises,  and  in  order  to  secure  the  due  and  punc¬ 
tual  payment  of  the  principal  and  interest  of  said  con¬ 
solidated  mortgage  bonds  issued  and  to  be  issued,  doth 
by  these  presents  grant,  bargain,  sell,  convey,  transfer 
and  assign,  and  by  these  presents  has  granted,  bargained, 
sold,  conveyed,  transferred  and  assigned,  unto  the  said 
The  Farmers’  Loan  and  Trust  Company,  and  its 
successor  or  successors  and  assigns,  as  Trustee,  all  and 
singular  the  property,  real,  personal  and  mixed,  of  the 
said  party  of  the  first  part,  heretofore  acquired  and  now 
owned  by  it,  and  more  particularly  designated,  referred 
to  and  described  in  the  schedule  hereto  annexed,  and  here¬ 
by  incorporated  into  and  made  a  part  hereof  ;  and  also 
all  and  singular  the  property,  real,  personal  and  mixed, 
which  shall  be  hereafter  acquired  and  owned  by  it,  and 
wheresoever  situated  ;  together  with  its  lands,  tenements 
and  hereditaments,  land  contracts,  coal  mines,  coal 
lands  and  dock  property  ;  and  also  all  and  singular  the 
railroads  and  telegraph  line  or  lines  of  the  party  of  the 
first  part,  constructed  or  to  be  constructed  upon  or  over 
the  lines  or  routes  in  its  articles  of  incorporation  men¬ 
tioned  and  described  ;  and  also  all  the  lands,  tenements 
and  hereditaments,  acquired  or  appropriated,  and  which 


11 


may  hereafter  be  acquired  or  appropriated,  for  the 
purpose  of  a  right  of  way  for  said  railways  ;  and  all  the 
easements  and  appurtenances  thereunto  belonging,  or  in 
any  wise  appertaining  ;  and  all  railways,  ways,  and 
rights  of  way,  depot  grounds,  tracks,  bridges,  viaducts,, 
culverts,  fences  and  other  structures,  depots,  station- 
houses,  engine-houses,  car-houses,  freight-houses,  wood- 
houses,  warehouses,  machine-shops,  work- shops,  super¬ 
structures,  erections  and  fixtures,  whether  now  held  or 
hereafter  at  any  time  acquired,  for  the  use  of  said  rail¬ 
ways  or  in  connection  therewith  or  the  business  thereof  *, 
also  all  locomotives,  tenders,  cars  and  other  rolling  stock 
or  equipment,  and  all  rails,  ties,  chairs  and  machinery, 
tools,  implements,  fuel  and  materials  whatsoever,  for  or 
in  respect  of  the  constructing,  operating,  repairing  or 
replacing  said  railways,  or  any  part  thereof,  or  convenient 
or  necessary  for  use  for  the  purposes  thereof,  whether  held 
and  owned  at  the  time  of  the  making  of  this  mortgage 
or  hereafter  acquired  by  said  party  of  the  first  part, 
together  with  all  the  equipments  or  appurtenances  what¬ 
soever  thereunto  belonging,  whether  now  held  or  here¬ 
after  acquired  ;  and  all  franchises  connected  with  or  re¬ 
lating  to  said  railways  and  said  line  or  lines  of  telegraph, 
or  the  construction,  maintenance  or  use  thereof,  now 
held  or  hereafter  acquired  by  said  party  of  the  first  part ; 
and  all  corporate  franchises  of  any  nature  relating 
thereto,  including  the  franchise  to  be  a  corporation  and 
operate  said  railways,  together  with  all  and  singular 
the  endowments,  income  and  advantages,  tenements, 
hereditaments  and  appurtenances  to  the  above-mentioned 
lands,  railroad  premises,  or  property  belonging  or  in  any 
wise  appertaining,  and  the  reversion  and  reversions,  re¬ 
mainder  and  remainders,  tolls,  incomes,  rents,  issues  and 
profits  thereof  ;  and  also  the  estate,  right,  title,  interest, 
property,  possession,  claim  and  demand  whatsoever,  as 
well  in  law  as  in  equity,  present  or  prospective, rof  the  said 


12 


party  of  tlie  first  part,  of,  in  and  to  the  same,  and  every 
part  and  parcel  thereof,  with  the  appurtenances  thereunto 
belonging ;  and  also  all  its  steamships,  steamboats,  ves¬ 
sels  and  barges,  together  with  their  tackle,  apparel  and 
furniture,  boats,  anchors,  cables,  stores,  and  all  other 
necessaries  thereunto  pertaining  and  belonging,  now 
owned,  possessed,  or  acquired,  or  which  shall  hereafter 
be  owned,  possessed,  or  acquired  by  said  party  of  the 
first  part ;  and  also  all  the  freights,  rents,  tolls  and 
income  thereof ;  and  also  all  the  stock  of  all  other  the 
corporations  mentioned  or  referred  to  in  said  Schedule, 
and  now  owned  and  possessed,  or  which  shall 
hereafter  be  owned  or  acquired,  by  said  party  of  the 
first  part,  together  with  all  the  incomes,  dividends, rights, 
and  interests  thereunto  belonging  ;  and  also  all  locks, 
basins,  docks,  wharves,  slips,  superstructures,  erections, 
and  fixtures  ;  and  all  and  singular  the  franchises,  rights 
and  privileges  now  owned,  possessed,  or  acquired,  or 
which  shall  hereafter  be  owned,  possessed,  or  acquired 
by  said  party  of  the  first  part  ;  and  also  all  goods  and 
chattels  now  owned  or  which  shall  hereafter  be  owned  by 
said  party  of  the  first  part,  and  in  any  way  relating  or 
pertaining  or  belonging  or  connected  with  its  business, 
or  used  for  operating  the  same,  together  with  all  rents, 
issues,  incomes,  profits,  moneys,  rights,  benefits  and  ad¬ 
vantages  derived,  or  to  be  derived,  had  or  received  there¬ 
from  by  said  party  of  the  first  part,  in  any  way  what¬ 
ever  ;  to  have  and  to  holh  all  and  singular  the  prem¬ 
ises,  rights,  franchises,  property,  real  and  personal, 
herein  and  hereby  assigned,  mortgaged,  pledged  and 
conveyed,  or  intended  so  to  be,  and  every  part  and  par¬ 
cel  thereof,  with  all  the  appurtenances  to  the  same  be¬ 
longing  or  in  any  wise  appertaining  unto  it,  the  said 
party  of  the  second  part  hereto,  and  to  its  successor  or 
successors,  and  to  its  assigns,  in  trust  for  the  person  or 
persons,  firm  or  firms,  bodies  politic  or  corporate,  who 


13 


have  heretofore  or  shall  hereafter  at  any  time  become 
the  purchasers  or  holders  or  owners  of  any  or  either  of 
said  bonds,  amounting  in  the  aggregate  to  fifteen  million 
dollars,  and  no  more,  subject  to  the  terms,  provisos, 
and  stipulations  in  said  bonds  contained  ;  and 
subject  also  to  the  possession,  management,  control 
and  disposition  of  all  the  said  property  by  the  said  party 
of  the  first  part,  and  its  successors  or  assigns,  except  as 
it  is  specifically  provided  otherwise  herein,  so  long  as  no 
default  shall  be  made  in  the  payment  of  either  interest  or 
principal  of  said  bonds,  or  upon  either  of  them,  and  so 
long  as  the  party  of  the  first  part  shall  well  and  truly 
observe,  keep  and  perform  all  and  singular  the  covenants, 
agreements,  conditions,  and  stipulations  in  the  said 
bonds,  and  in  this  indenture  contained  and  set  forth, 
and  which  are  to  be  observed  and  kept  and  performed  by 
and  on  the  part  of  the  said  party  of  the  first  part ;  and 
subject  also  to  the  covenants,  agreements,  conditions, 
and  stipulations  in  this  indenture  contained  and  set 
forth. 

And  the  said  party  of  the  first  part  hath  covenanted 
and  agreed,  and  by  these  presents  doth  for  itself,  its 
successors  and  assigns,  covenant  and  agree  with  the 
party  of  the  second  part  hereto,  and  its  successor  or  suc¬ 
cessors,  in  the  manner  and  form  following,  that  is  to 
say 

First. — That  the  said  party  of  the  first  part,  and  its 
successors,  shall  and  will  pay  or  cause  to  be  paid,  all 
taxes,  charges,  rates,  levies  and  assessments,  imposed, 
assessed  or  levied,  or  which  hereafter  may  be  imposed, 
assessed  or  levied  upon  the  premises,  franchises  and 
property  hereby  mortgaged,  conveyed  and  assigned,  or 
intended  so  to  be,  and  shall  and  will,  at  its  own  proper 
cost,  expense  and  charge,  do,  or  cause  to  be  done,  all 
acts  and  things  necessary  and  proper  to  be  done  or  per¬ 
formed  in  order  to  preserve  and  keep  valid  and  intact 


14 


this  lien  or  incumbrance,  upon  all  and  singular  the 
aforesaid  premises,  property  and  franchises  hereby  cre¬ 
ated  or  intended  so  to  be,  subject  however,  to  the  terms 
and  conditions  hereof  ;  and  further,  that  the  lien  or  in¬ 
cumbrance  created  by  the  execution  and  delivery  of  this 
indenture  constitutes  and  is  in  fact  a  valid  lien  and 
incumbrance  upon  the  premises,  property  and  franchises 
herein  described,  subject  only  to  the  lien  of  said  First 
Mortgage  to  The  Farmers’  Loan  and  Trust  Com¬ 
pany. 

Second. — That  said  party  of  the  first  part,  and  its 
successors,  shall  and  will  at  any  time  or  times  hereafter, 
and  from  time  to  time,  execute,  acknowledge  and  de¬ 
liver  under  its  corporate  seal,  to  the  said  party  of  the 
second  part,  and  its  successor  or  successors,  such  other 
and  further  assurances,  deeds,  mortgages,  obligations, 
transfers,  assignments,  bills  of  sale,  indentures  and  in¬ 
struments  in  writing,  and  shall  and  will  do  and  perform 
all  such  further  and  other  acts  or  things,  as  shall  or  may 
be  proper  or  necessary,  or  as  its  counsel  learned  in  the 
law  shall  deem  necessary,  proper,  or  expedient,  for  the 
better  and  more  effectively  securing  the  payment  of  said 
bonds,  and  the  interest  due  or  to  grow  due  thereon,  or 
for  the  carrying  into  effect  the  true  intent,  design,  ob¬ 
jects  and  purposes  of  these  presents,  or  making,  preserv¬ 
ing,  continuing  and  keeping  valid  and  effectual  the  lien 
and  incumbrance  created  or  intended  to  be  created  by 
the  execution,  delivery  and  recording  of  this  indenture 
upon  all  the  property,  real  and  personal,  railways,  steam¬ 
ships,  vessels,  equipments,  tackle,  apparel  and  furniture 
thereof,  franchises  and  effects  now  owned,  possessed,  or 
acquired,  or  which  shall  hereafter  be  owned,  possessed, 
or  acquired  by  said  party  of  the  first  part. 

Third. — That  the  said  party  of  the  first  part  shall  and 
will  well  and  truly  pay  said  sums  of  money  in  the  said 


15 


bonds  mentioned,  together  with  the  semi-annual  interest 
due  or  to  become  due  thereon,  at  the  rate  of  five  per 
•cent  per  annum,  at  the  times  and  in  the  manner,  and  at 
the  place  specified  therein. 

Fourth. — That  all  the  bonds  hereby  secured,  or  in¬ 
tended  so  to  be,  after  having  been  from  time  to  time 
first  duly  made  and  executed  by  the  party  of  the  first 
part,  shall  be  delivered  to  the  party  of  the  second  part, 
as  Trustee,  and  after  having  been  duly  authenticated  by 
the  execution  of  the  certificate  of  said  Trust  Company 
endorsed  thereon,  shall  be  by  it  issued  and  delivered  or 
disposed  of  from  time  to  time  as  hereinafter  in  this  the 
Fourth  Article  provided,  and  not  otherwise,  that  is  to 
say  : 

Subdivision  1.  The  said  bonds  to  the  amount  of  four 
million  five  hundred  and  fourteen  thousand  dollars 
($4,514,000)  of  principal,  being  equal  in  amount  to  the 
entire  amount  now  outstanding  of  the  said  First  Mortgage 
Bonds  issued  under  and  secured  by  the  hereinbefore  de¬ 
scribed  First  Mortgage  of  the  party  of  the  first  part,  all 
of  which  are  subject  to  payment  and  redemption  as  here¬ 
inbefore  recited,  shall  be  held  and  retained  by  said 
Trustee  for  issue  and  delivery,  from  time  to  time,  to  the 
party  of  the  first  part,  on  its  demand,  as  follows  : 

For  each  and  every  of  said  First  Mortgage  Bonds  paid, 
cancelled  and  surrendered  by  the  party  of  the  first  part 
in  excess  of  the  requirements  of  the  Sinking  Fund  provis¬ 
ions  of  said  First  Mortgage,  one  of  said  Consolidated 
Mortgage  Bonds,  with  all  its  then  unmatured  coupons 
annexed,  shall  be  delivered  to  the  party  of  the  first  part  ; 

For  each  and  every  of  said  First  Mortgage  Bonds  for 
the  payment,  cancellation  and  redemption  of  which  the 
party  of  the  first  part  shall  deposit  moneys  with  the 
Trustee  of  said  First  Mortgage,  sufficient  to  pay,  cancel 
and  redeem  First  Mortgage  Bonds  in  excess  of  the  re- 


16 


quirements  of  the  Sinking  Fund  provisions  of  said  First 
Mortgage  one  of  said  Consolidated  Mortgage  Bonds, 
with  all  its  then  miniatured  coupons  annexed,  shall  be 
delivered  to  the  party  of  the  first  part ; 

Whenever  all  the  said  First  Mortgage  Bonds  have  been 
fully  paid,  cancelled  or  redeemed,  or  whenever  the  party 
of  the  first  part  shall  have  deposited  moneys  with  the 
Trustee  of  the  said  First  Mortgage  sufficient  to  pay, 
cancel  and  redeem  all  and  every  of  said  First  Mortgage 
Bonds  then  outstanding  and  unpaid,  all  of  the  remain¬ 
der  of  said  four  million  five  hundred  and  fourteen 
thousand  dollars  of  principal  of  Consolidated  Mortgage 
Bonds,  with  the  then  unmatured  coupons  annexed, 
shall  be  delivered  to  the  party  of  the  first  part. 

Subdivision  The  said  bonds  to  the  amount  of  two 
million  dollars  ($2,000,000)  of  principal  shall  be  held 
and  retained  by  said  Trustee  for  issue  and  delivery, 
from  time  to  time,  to  the  party  of  the  first  part,  on  its 
demand,  for  conversion  or  substitution  at  par  for  its 
shares  of  Preferred  Stock,  as  follows  : 

For  each  and  every  ten  shares  of  the  Preferred  Stock 
of  the  party  of  the  first  part  which  it  shall  from  time  to 
time  acquire,  withdraw  and  cancel,  delivering  the  can¬ 
celled  certificate  to  the  Trustee,  one  of  said  Consoli¬ 
dated  Mortgage  Bonds,  with  all  its  then  unmatured 
coupons  annexed,  shall  be  delivered  to  the  party  of  the 
first  part. 


Subdivision  3.  The  said  bonds  to  the  amount  of  two 
million  dollars  ($2,000,000)  of  principal  shall  be  forth¬ 
with  issued  and  delivered  to  the  party  of  the  first  part, 
or  to  its  order,  on  its  demand. 


Subdivision  The  remainder  of  said  bonds,  namely, 


17 


bonds  to  the  amount  of  six  million  four  hundred  and 
eighty-six  thousand  dollars  ($6,486,000)  of  principal 
shall  be  issued  and  delivered  to  the  party  of  the  first 
part  from  time  to  time  on  its  demand,  but  only  when 
its  demand  shall  be  accompanied  by  a  certified  copy  of 
a  vote  or  resolution  of  the  Board  of  Directors  of  the 
party  of  the  first  part,  adopted  at  a  regular  meeting 
thereof,  by  the  affirmative  vote  of  not  less  than  two-thirds 
of  all  the  members  of  the  Board  of  Directors  ;  such  vote 
or  resolution  shall  recite  that  the  bonds  so  demanded  are 
required  for  the  acquisition  of  new  property  for  the  gen¬ 
eral  purposes  of  the  company,  and  shall  state  the  descrip¬ 
tion  and  cost  of  such  new  property,  and  bonds  to  an 
amount  equal  at  par  to  the  cost  of  such  new  property 
shall  be  delivered  to  the  party  of  the  first  part. 

In  making  the  deliveries  of  bonds  contemplated  in 
this  Fourth  Article  the  Trustee  shall,  in  each  and  every 
case,  effectually  cancel  all  coupons  of  said  Consolidated 
Mortgage  Bonds  which  shall  have  matured  prior  to  the 
date  of  such  deliveries,  respectively. 

Fifth. — The  shares  of  the  capital  stock  of  the  com¬ 
panies  or  corporations  referred  to  and  described  in  the 
aforesaid  Schedule,  hereto  annexed,  and  now  owned  and 
possessed,  or  which  shall  hereafter  be  owned  or 
acquired  by  the  party  of  the  first  part,  and  the  shares 
of  the  capital  stock  of  all  other  companies  or  corpora¬ 
tions  now  owned  and  possessed,  or  which  shall  hereafter 
be  owned  or  acquired  by  the  party  of  the  first  part,  and 
the  certificates  for  all  such  shares  of  capital  stock,  with 
the  exception  of  certificates  for  so  many  shares  of  each 
of  said  several  kinds  of  stock,  in  each  and  every  of  said 
companies  or  corporations,  as  may  be  necessary  to  keep 
up  the  organization  of  each  company,  shall  be  forth¬ 
with  assigned  and  delivered  to  The  Farmers’ 
Loan  and  Trust  Company,  as  Trustee,  to  be  held  as 
security,  first ,  for  the  payment  of  the  obligations  of  the 


18 


party  of  the  first  part,  as  set  forth  and  described  in  said 
First  Mortgage  to  it,  and  second ,  for  the  payment  of  the 
obligations  of  the  party  of  the  first  part,  asset  forth  and 
described  in  this  Mortgage.  But  it  is  expressly  cove¬ 
nanted  and  agreed  that  of  the  shares  of  the  capital 
stock  of  the  companies  hereinbefore  referred  to,  and  of 
all  other  the  stock  in  any  corporation  whatsoever,  now 
owned  and  acquired  or  hereafter  owned  and  acquired 
by  the  party  of  the  first  part,  herein  assigned,  trans¬ 
ferred  or  conveyed  to  the  party  of  the  second  part, 
there  shall,  at  all  times,  stand  in  the  names  of  the  nom¬ 
inees  of  the  party  of  the  first  part  not  less  than  twenty 
of  said  shares  of  stock  in  each  and  every  of  said  com¬ 
panies,  the  said  nominees  to  be  appointed  by  the 
resolution  of  the  Board  of  Directors  of  the  party  of  the 
first  part,  at  any  regular  meeting  thereof,  and  that  the 
party  of  the  second  part  will  and  shall,  upon  the  request 
of  the  party  of  the  first  part,  such  request  to  be  evi¬ 
denced  by  a  resolution  of  the  Board  of  Directors  of  the 
party  of  the  first  part,  make,  constitute  and  appoint 
the  nominee  or  nominees  of  the  party  of  the  first  part, 
its  proxy,  agent  and  attorney,  in  its  name,  place,  and 
stead,  to  vote  upon  all  and  every  the  shares  of  stock 
herein  referred  to  or  described,  or  intended  so  to  be, 
at  all  and  every  the  meetings  of  the  stockholders  of 
said  companies  respectively,  or  any  of  them,  for  all  and 
every  purpose  whatsoever,  except  for  the  creation  of 
loans,  mortgages  or  obligations  of  said  companies,  or 
either  of  them,  upon  any  of  the  property  covered,  or 
intended  to  be  covered  by  this  indenture,  unless  the  same 
shall  expressly  recognize  the  priority  of  the  lien  created 

i 

by  this  indenture. 

Sixth. — The  bonds  referred  to  and  described  in  said 
Schedule,  hereto  annexed,  and  the  evidence  of  owner¬ 
ship  and  muniments  of  title  of  all  the  property  herein 
and  hereby  conveyed  or  intended  to  be  conveyed,  shall, 


19 


on  demand,  be  delivered  to  and  lodged  with  The 
Farmers’  Loan  and  Trust  Company,  as  Trustee,  to  be 
held  as  security,  first ,  for  the  payment  of  the  obliga¬ 
tions  of  the  party  of  the  first  part,  as  set  forth  and  de¬ 
scribed  in  said  First  Mortgage  to  it,  and,  second ,  for  the 
payment  of  the  obligations  set  forth  and  described  in 
this  Mortgage. 

Seventh. — In  case  the  party  of  the  first  part  shall,  at 
any  time,  make  default  in  the  payment  of  the  semi-an¬ 
nual  interest  due,  or  to  become  due,  on  either  or  any  of 
said  bonds  issued  pursuant  to  the  terms  of  this  Mort¬ 
gage,  and  such  default  shall  continue  for  the  period  of 
ninety  days,  then,  after  the  lapse  of  said  ninety  days, 
the  whole  principal  sum  mentioned  in  each  and  all  of 
said  bonds  then  outstanding,  shall,  at  the  option  of  the 
holders  of  one-half  of  the  then  outstanding  bonds,  se¬ 
cured  hereby,  forthwith  be  and  become  due  and  payable, 
and  the  lien  or  incumbrance  hereby  created  for  the  se¬ 
curity  and  payment  thereof  may  be  at  once  enforced, 
anything  in  said  bonds  or  this  indenture  to  the  contrary 
notwithstanding  ;  and  it  shall  be  lawful  and  the 
said  party  of  the  second  part,  and  its  successor  or 
successors,  is  hereby  expressly  authorized  and  empow¬ 
ered,  upon  the  request,  in  writing,  of  the  holders  of  one- 
half  of  the  then  outstanding  bonds  secured  hereby,  to 
enter  into  and  upon,  and  to  take  actual  possession  of, 
all  and  singular  the  premises,  franchises,  rights,  prop¬ 
erty,  real  and  personal,  and  effects  hereby  granted,  con¬ 
veyed,  assigned,  mortgaged,  pledged,  transferred  and  set 
over,  or  intended  so  to  be,  as  a  security  for  the  payment 
of  said  bonds,  and  by  its  agents  to  take,  collect  and 
receive  the  tolls,  earnings,  income  and  profits  thereof, 
and  of  every  part  thereof,  or  to  be  derived  therefrom  ; 
and  said  party  of  the  second  part,  its  successors  or 
successor,  may  thereafter  proceed,  and  are  hereby 
expressly  authorized  and  empowered  thereupon,  but 


20 


within  such  reasonable  time  as  it  may  deem  proper, — 
not  less  than  sixty  days, — and  upon  and  after  public 
notice  by  advertising  for  at  least  once  a  week,  four  weeks, 
in  one  or  more  newspapers  published  in  the  cities  of  San 
Francisco,  Cal.,  Portland,  Oregon,  and  New  York,  to  pro¬ 
ceed  to  sell  at  public  auction  in  the  city  of  Portland, 
Oregon,  to  the  highest  bidder,  any  part  of  or  all  and 
singular  the  property,  real  and  personal,  and  premises 
hereby  granted,  conveyed,  assigned,  mortgaged,  pledged, 
transferred  and  set  over,  or  intended  so  to  be,  and 
all  benefit  and  equity  of  redemption  whatsoever  of 
said  party  of  the  first  part  hereto,  of,  in  and  to  the  same, 
and  every  part  and  parcel  thereof,  together  with  the 
benefit  of  the  franchises  belonging  thereto  or  connected 
therewith  ;  and  as  the  attorney  or  attorneys  of  said 
party  of  the  first  part  hereto,  for  that  purpose  by  these 
presents  duly  appointed  and  constituted,  the  said  party 
of  the  second  part  and  its  successors  or  successor  shall 
have  full  power  and  authority  to  make,  execute,  and 
deliver  to  the  purchaser  or  purchasers  thereof  a  good 
valid  and  sufficient  deed  of  conveyance  or  conveyances, 
bill  of  sale  or  bills  of  sale,  assignment  or  transfer  of  all 
and  singular  the  said  property,  real  and  personal,  rights 
and  premises,  hereby  granted,  assigned,  transferred  or 
conveyed  as  aforesaid  ;  which  sale  so  to  be  made  as  afore¬ 
said  and  which  deeds,  conveyances,  assignments, 
bills  of  sale  and  transfer,  so  to  be  made  and  delivered  as 
aforesaid,  shall  operate  to  convey,  assign,  transfer  and 
vest  in  said  purchaser  or  purchasers  all  the  right,  title, 
interest  and  estate  whatsoever,  reversionary  or  otherwise, 
of  the  party  of  the  first  part,  of,  in  and  to  the  premises 
so  sold,  conveyed,  assigned  or  transferred  ;  and  said 
sale  so  to  be  made  shall  be  a  complete  and  perpetual 
bar,  both  at  law  and  in  equity,  against  the  party  of  the 
first  part,  its  successors,  assigns,  and  all  persons  or  par¬ 
ties  claiming  by,  from  or  under  it  or  them,  in  any  wise 


21 


or  manner  whatsoever  ;  and  out  of  the  moneys  or  pro¬ 
ceeds  arising  from  the  said  tolls,  earnings  or  receipts  of 
said  company  or  the  premises,  or  at  or  from  said  sale  so 
to  be  made  as  aforesaid,  after  first  deducting  the  ex¬ 
penses,  disbursements,  costs,  charges  and  counsel  fees 
incurred  in -and  about  the  conducting  of  said  sale,  or 
running  or  operating  said  company’s  property,  the  said 
party  of  the  second  part,  and  its  successors  and  suc¬ 
cessor,  shall  pay  the  said  bonds,  or  so  many  thereof  as 
shall  be  then  outstanding  and  unpaid,  together  with  all 
the  arrears  of  interest  then  due  or  owing  upon  the  same, 
rendering  or  paying  over  the  surplus  of  all  such  moneys, 
if  any  there  shall  be,  to  the  said  party  of  the  first  part 
hereto,  its  successors  or  assigns  ;  but  these  provisions 
are  expressly  declared  to  be  cumulative  and  in  addition 
to  the  right  of  the  trustee  to  foreclose  this  mortgage  by 
bill  in  equity  in  case  such  default  shall  be  made  and 
continue  for  the  ninety  days  as  aforesaid. 

Eighth. — It  is  expressly  covenanted  and  agreed,  and 
it  is  an  express  condition  of  this  instrument,  that  upon 
the  payment  or  redemption  of  all  the  bonds  secured 
hereby,  together  with  the  interest  that  shall  become  due 
thereon,  the  interest  and  estate  hereby  granted  or  con¬ 
veyed  shall  cease  and  determine,  and  the  party  of  the 
first  part  shall  be  thereupon  reinvested  and  possessed  of 
the  property,  estate  and  interest  hereby  granted  or  con¬ 
veyed,  or  intended  to  be  conveyed,  and  this  instrument 
shall  then  be  null  and  void. 


Ninth. — It  is  also  exjiressly  covenanted  and  agreed, 
and  it  is  an  express  condition  of  this  instrument,  that 
until  the  party  of  the  first  |iart  shall  have  made  some 
default  in  the  payment  of  the  principal  or  the  interest 
secured  hereby,  or  payable  upon  the  said  bonds  or  upon 
any  of  them,  or  in  the  performance  of  some  other  of  the 


22 


covenants,  stipulations  or  provisions  on  the  part  of  the 
party  of  the  first  part  to  be  performed,  the  said  party  of 
the  first  part  shall  be  entitled  to  remain  and  continue  in 
the  possession,  use  and  enjoyment  of  all  the  said  mort¬ 
gaged  premises  (saving  and  excepting  the  possession  of 
the  certificates  for  said  shares  of  stock  and  the  said  bonds 
or  negotiable  securities  hereinbefore  referred  to,  and  as  to 
which  it  is  provided  that  they  shall  be  lodged  with  and  re¬ 
tained  by  The  Farmers’  Loan  and  Trust  Company),. 
lands,  properties,  rights  and  franchises,  and  shall  be  en¬ 
titled  to  receive,  collect,  disburse  and  dispose  of  all  the 
income,  rents  and  profits  of  all  said  mortgaged  premises 
and  properties,  including  all  moneys  due  from  under¬ 
writers  or  insurance  companies,  the  dividends  upon  said 
shares  of  stock  and  the  interest  to  grow  due  upon  any 
of  said  bonds  or  securities. 


Tenth. — It  is  also  expressly  covenanted  and  agreed 
that  from  time  to  time,  the  party  of  the  first  part  may 
sell,  lease  or  otherwise  dispose  of  such,  or  so  much  of 
the  property  herein  and  hereby  assigned,  mortgaged, 
pledged  and  conveyed,  or  intended  so  to  be,  as  shall  be 
no  longer  requisite  and  necessary  for  its  business,  pro¬ 
vided  always  that  such  terms  and  conditions  upon  all  and 
every  such  sales,  leases  or  other  disposition  of  such  prop¬ 
erty  shall  provide  for  the  payment  or  application  of  the 
moneys  arising  thereon,  either  to  the  purchase  of 
property  necessary  or  proper  for  the  business 
of  the  party  of  the  first  part,  the  property  so 
purchased  to  be  subject  to  all  and  every  the  terms,  provis¬ 
ions  and  conditions  of  this  indenture  and  the  lien  there¬ 
of,  or  to  the  redemption  and  cancellation  of  the  bonds 
secured  thereby ;  and  it  is  further  covenanted  and 
agreed  by  and  between  the  parties  hereto,  that  any  of 


23 


the  property  of  the  said  party  of  the  first  part  affected 
by  this  mortgage,  not  required  for  its  use  in  connection 
with  the  operation  of  its  railroad,  steamship  or  steam¬ 
boat  lines  may  be  sold  at  the  discretion  of  said  party  of 
the  first  part,  and  that  said  party  of  the  second  part 
shall  release  such  property  from  the  lien  of  this  mort¬ 
gage  upon  presentation  of  the  certificate  of  the  Gen¬ 
eral  Manager  of  said  party  of  the  first  part  to  the  effect 
that  a  sum  equal  in  amount  to  the  proceeds  of  such 
property  so  sold  has  been  used  in  the  purchase  of  other 
property,  which  certificate  shall  be  conclusive  evidence 
thereof  to  the  Trustee. 


Eleventh. — It  is  understood  and  hereby  mutually 
covenanted  and  agreed  by  and  between  the  parties  hereto 
that  the  word  “  trustee,”  or  the  words  “party  of  the 
second  part,”  when  and  as  used  in  these  presents,  shall, 
for  all  purposes,  be  taken,  held  and  construed  to  mean, 
include  and  describe  the  person  or  persons,  or  the  cor¬ 
poration  or  corporations,  who  or  which  shall,  for  the 
time  being,  and  from  time  to  time,  be  charged  with  the 
trusts  hereby  and  herein  created  and  expressed,  whether 
the  same  be  the  said  party  of  the  second  part,  or  any 
successors  or  successor  in  said  trust.  And  that  the 
trustee  shall  not  in  any  manner  be  answerable  for  any 
act,  default,  neglect,  or  misconduct  of  any  of  its  agents 
or  employees  by  it  appointed  or  employed  in  the  execu¬ 
tion  of  any  of  the  said  trusts,  provided  such  agent  or 
employee  shall  have  been  selected  with  reasonable  dis¬ 
cretion  ;  nor  shall  it  be  answerable  in  any  other  case, 
except  for  its  own  wilful  default  or  misconduct.  It 
shall  be  no  part  of  the  Trustee’s  duty  to  record  this 
mortgage  or  to  file  the  same  as  a  chattel  mortgage,  or  do 
anything  to  render  or  give  notice  of  the  lien  of  this  mort¬ 
gage  ;  nor  shall  it  be  any  part  of  its  duty  to  effect  insur¬ 
ance  against  fire  or  marine  or  other  damage  ;  nor  shall  it 


24 


be  incumbent  upon  the  Trustee  to  do  anything  as  Trustee 
unless  requested  in  writing  by  bondholders  so  to  do  and 
indemnified  to  its  satisfaction  against  all  expense  in  so 
doing  and  all  possible  claims  for  damages.  That  the 
trustee  shall  be  entitled  to  just  compensation  for  all 
services  it  may  render,  and  to  be  reimbursed  for  all 
reasonable  expenses  and  liabilities  by  it  paid  or  incurred 
in  the  execution  of  said  trusts  ;  and  that,  before  com¬ 
plying  with  any  of  the  requests  or  demands  of  bond¬ 
holders  herein  contemplated,  the  trustee  may  require 
sufficient  indemnity  to  reimburse  it  for  all  reasonable 
expenses,  charges  or  liabilities  which  may  be  incurred 
by  it  in  so  doing.  And  that  the  trustee  may  resign  and 
be  discharged  of  the  said  trusts  by  giving  notice  in 
writing  to  the  said  party  of  the  first  part  at  least  ninety 
days  before  such  resignation  shall  take  effect,  or  such 
shorter  period  as  the  said  party  of  the  first  part  shall 
accept  as  sufficient  notice. 


It  is  further  agreed,  that  the  trustee  may,  at  any 
time,  lie  removed  by  a  declaration  in  writing,  signed  by 
a  majority  in  interest  of  the  holders  of  all  the  bonds 
hereby  secured,  at  the  time  outstanding  and  unpaid  ; 
and  that  in  case  of  the  resignation,  incapacity  or  re¬ 
moval  of  the  trustee,  a  successor  or  successors  may  be 

#/ 

appointed  by  a  majority  in  interest  of  the  holders  of 
said  bonds  then  outstanding  and  unpaid,  by  an  instru¬ 
ment  in  writing  signed  by  them  ;  and  in  case  such 
majority  do  not  agree  upon  the  appointment  of  a  new 
trustee  or  new  trustees  within  thirty  days  after  a 
vacancy  shall  occur,  then  the  said  party  of  the  first  part, 
or  the  holder  or  holders  of  any  of  said  bonds  to  the 
amount  of  one  hundred  thousand  dollars,  may  apply  to 
any  court  of  competent  jurisdiction  for  the  appointment 
of  a  new  trustee  or  new  trustees,  upon  such  notice  as 
such  court  shall  prescribe,  to  be  served  or  given  in  such 


manner,  and  upon  or  to  such  party  or  parties,  person  or 
persons,  as  such  court  shall  direct,  or  upon  such  notice 
as  shall'  be  in  accordance  with  the  rules  and  practice  of 
the  court.  And  the  trustee  or  trustees  appointed  by 
the  majority  in  interest  of  the  said  bondholders  or  by 
said  court,  shall,  on  his  or  their  acceptance  of  such  ap¬ 
pointment,  thereby  and  thereupon  become  and  be  vested 
with  all  the  powers,  authorities,  estates,  rights,  titles, 
and  interests  granted  to  and  conferred  upon  the  said 
party  of  the  second  part  by  these  presents,  without  any 
further  assurance  or  conveyance  whatsoever  ;  neverthe¬ 
less,  the  trustee  or  trustees  resigning,  or  being  removed, 
shall  immediately,  on  demand  of  the  new  trustee  or 
trustees,  execute,  acknowledge  and  deliver  all  such  con¬ 
veyances,  assurances,  and  other  instruments  as  may  be 
appropriate  or  expedient  for  the  purpose  of  conveying 
and  assuring  the  legal  title  to  the  premises  to  such  new 
trustee  or  trustees. 


Twelfth.  -The  party  of  the  second  part,  by  the 
execution  of  these  presents,  accepts  the  trusts  hereby 
created,  and  covenants  and  agrees  to  execute  the  cer¬ 
tificate  upon  each  and  every  of  said  bonds,  and  to  cer¬ 
tify,  issue  and  deliver  the  same  in  conformity  with  the 
provisions  of  the  Fourth  Article  hereof,  and  not  other¬ 
wise,  and  immediately  after  such  execution  of  said  cer¬ 
tificate  to  deliver  the  said  bonds  to  the  party  of  the  first 
part,  or  to  its  order. 


Ih  witness  whereof,  The  said  parties  of  the  first 
and  second  parts  hereto  have  hereunto,  and  unto  nine 
other  duplicate  originals  hereof,  affixed  their  respective 
corporate  seals,  and  have  respectively  caused  these 
presents  to  be  signed  by  their  respective  Presidents  and 


26 


Secretaries,  or  Assistant  Secretaries,  this  first  day  of  No- 
vember,  A.  d.  1889. 


The  Oregon  Improvement  Company, 


Attest : 


Elijah  Smith, 

President. 


[seal.] 


P.  W.  Smith, 

Assistant  Secretary . 


The  Farmers’  Loan  and  Trust  Company, 


Attest  : 


R.  G.  Rolston, 

Presidents 


[SEAL.] 


E.  S.  Marston, 

Secretary  s 


Sealed  and  delivered 

in  the  presence  of 


W.  J.  Flesher, 

A.  W.  Hornung, 
C.  E.  Bond, 

B.  B.  Sloan, 

C.  R.  Leake, 

F.  A.  Wilson, 


As  to  the  Oregon  Improvement 
Company. 

As  to  the  Farmers’  Loan  and 
Trust  Company. 


27 


State  of  New  York,  i 
City  and  County  of  New  York.  \  ss'  * 

Be  it  remembered,  That  on  this  19th  day  of  No¬ 
vember,  a.  d.  one  thousand  eight  hundred  and 
eighty-nine,  before  me,  a  Commissioner  of  the  State  of 
Oregon,  in  and  for  the  State  of  New  York,  residing  in 
said  city  of  New  York,  personally  came  Elijah  Smith, 
President  of  The  Oregon  Improvement  Company, 
the  corporation  described  in  the  foregoing  instrument  as 
the  party  of  the  first  part  thereto,  and  who  is  personally 
well  known  to  me  ;  and  he,  being  by  me  duly  sworn,  did 
depose  and  say  that  he  is,  and  at  the  time  of  the  execu¬ 
tion  of  said  instrument  was,  the  President,  and  that 
Prosper  W.  Smith  is  and  then  was  the  Assistant  Secre¬ 
tary  of  the  said  Company  ;  that  he  knows  the  corporate 
seal  of  said  Company,  and  that  the  seal  affixed  to  the 
foregoing  instrument  as  such  is  said  corporate  seal ;  that 
the  said  seal  was  so  affixed  by  the  authority  of  the 
Board  of  Directors  of  said  Company  ;  and  that  he,  as 
President  aforesaid,  signed,  and  the  said  Prosper  W. 
Smith,  as  Assistant  Secretary  aforesaid,  attested,  the 
said  instrument  by  like  authority.  And  the  said  Elijah 
Smith,  President  as  aforesaid,  acknowledged  the  execu¬ 
tion  of  said  instrument  as  the  act  and  deed  of  the  said 
Oregon  Improvement  Company,  for  the  uses  and  pur¬ 
poses  therein  expressed. 

In  witness  whereof  I  have  hereunto  sub¬ 
scribed  my  name  and  affixed  my  official 
seal,  at  my  office,  in  the  said  city  of  New 
[l.  s.]  York,  the  day  and  year  aforesaid. 

L.  R.  Kidder, 

Commissioner  for  the  State  of  Oregon, 
in  the  State  of  New  York. 


28 


State  of  New  York,  | 

City  and  County  of  New  York ,  f  ss*  * 

Be  it  Remembered,  That  on  this  19th  day  of  No¬ 
vember.  A.  d.  one  thousand  eight  hundred  and  eighty- 
nine  beforee,  me.  a  Commissioner  of  the  State  of 
Oregon  in  the  State  of  New  York,  residing  in  said  city 
of  New  York,  personally  came  Rosewell  G.  Rolston, 
President  of  The  Farmers’  Loan  and  Trust  Company, 
the  corporation  described  in  the  foregoing  instrument  as 
the  party  of  the  second  part  thereto,  and  who  is  person¬ 
ally  well  known  to  me  ;  and  he,  being  by  me  duly  sworn, 
did  depose  and  say  that  he  is,  and  at  the  time  of  the  exe¬ 
cution  of  said  instrument  was,  the  President,  and  that 
Edwin  S.  Marston  is  and  then  was  the  Secretary  of  the 
said  Company  ;  that  he  knows  the  corporate  seal  of  said 
Company,  and  that  the  seal  affixed  to  the  foregoing  instru¬ 
ment  as  such  is  said  corporate  seal  ;  that  the  said  seal 
was  affixed  by  the  authority  of  the  Board  of  Directors  of 
said  Company  ;  and  that  he,  as  President  aforesaid, 
signed,  and  the  said  Edwin  S.  Marston,  as  Secretary 
aforesaid,  attested,  the  said  instrument  by  like  author¬ 
ity.  And  the  said  Rosewell  G.  Rolston,  President  as 
aforesaid,  acknowledged  the  execution  of  said  instru¬ 
ment  as  the  act  and  deed  of  the  said  The  Farmer’s 
Loan  and  Trust  Company,  for  the  uses  and  purposes 
therein  expressed. 

In  witness  whereof  I  have  hereunto  sub¬ 
scribed  my  name  and  affixed  my 
official  seal,  at  my  office  in  the  said  city 
[l.  s.]  of  New  York,  the  day  and  year  afore¬ 
said. 


L.  R.  Kidder, 

Commissioner  for  the  State  of  Oregon, 
in  the  State  of  New  York. 


29 


State  of  New  York, 

City  and  County  of  New  York, 


ss.: 


Be  it  Remembered,  That  on  this  19  day  of  No¬ 
vember,  a.  d.  one  thousand  eight  hundred  and  eighty- 
nine  before  me,  a  Commissioner  of  the  State  of 
California  in  and  for  the  State  of  New  York,  residing  in 
said  city  of  New  York,  personally  came  Elijah  Smith, 
President  of  The  Oregon  Improvement  Company,  the 
corporation  described  in  the  foregoing  instrument  as  the 
party  of  the  first  part  thereto,  and  who  is  personally  well 
known  to  me  ;  and  he,  being  by  me  duly  sworn,  did  depose 
and  say  that  he  is,  and  at  the  time  of  the  execution  of  said 
instrument  was,  the  President,  and  that  Prosper  W. 
Smith  is  and  then  was  the  Assistant  Secretary,  of  the 
said  Company  ;  that  he  knows  the  corporate  seal  of  said 
Company,  and  that  the  seal  affixed  to  the  foregoing  in¬ 
strument  as  such  is  said  corporate  seal ;  that  the  said  seal 
was  so  affixed  by  the  authority  of  the  Board  of  Directors 
of  said  Company  ;  and  that  he,  as  President  aforesaid, 
signed,,  and  the  said  Prosper  W.  Smith,  as  Assistant 
Secretary  aforesaid,  attested,  the  said  instrument  by 
like  authority.  And  the  said  Elijah  Smith,  President 
as  aforesaid,  acknowledged  the  execution  of  said  instru¬ 
ment  as  the  act  and  deed  of  the  said  Oregon  Improve¬ 
ment  Company,  for  the  uses  and  purposes  therein  ex¬ 
pressed. 


[L-  S.] 


In  witness  whereof  I  have  hereunto  sub¬ 
scribed  my  name  and  affixed  my  official 
seal,  at  my  office  in  the  said  city  of 
New  York,  the  day  and  year  aforesaid. 


Charles  Taylor, 

Commissioner  for  the  State  of  California, 
in  the  State  of  New  York. 


30 


State  of  New  York,  |  . 

City  and  County  of  New  York ,  f 

Be  it  Remembered,  That  on  this  19tli  day  of  No¬ 
vember,  a.  d.  one  thousand  eight  hundred  and 
eighty-nine,  before  me,  a  Commissioner  of  the  State 
of  California,  in  the  State  of  New  York,  residing  in  said 
city  of  New  York,  personally  came  RosewellG.  Rolston, 
President  of  The  Farmers'  Loan  and  Trust  Com¬ 
pany,  the  corporation  described  in  the  foregoing  instru¬ 
ment  as  the  party  of  the  second  part  thereto,  and  who 
is  personally  well  known  to  me  ;  and  he,  being  by  me 
duly  sworn,  did  depose  and  say  that  he  is,  and  at  the 
time  of  the  execution  of  said  instrument  was,  the  Pres¬ 
ident,  and  that  Edwin  S.  Marston  is  and  then  was  the 
Secretary,  of  the  said  Company  ;  that  he  knows  the 
corporate  seal  of  said  Company,  and  that  the  seal 
affixed  to  the  foregoing  instrument  as  such  is  said 
corporate  seal ;  that  the  said  seal  was  so  affixed  by 
authority  of  the  Board  of  Directors  of  said  Company  ; 
and  that  he,  as  President  aforesaid,  signed,  and  the  said 
Edwin  S.  Marston,  as  Secretary  aforesaid,  attested, 
the  said  instrument  by  like  authority.  And  the  said 
Rose  well  G.  Rolston,  President  as  aforesaid,  acknowd- 
edged  the  execution  of  said  instrument  as  the  act 
and  deed  of  the  said  Farmers’  Loan  and  Trust 
Company,  for  the  uses  and  purposes  therein  expressed. 

In  wdtness  wdiereof  I  have  hereunto  sub¬ 
scribed  my  name  and  affixed  my  official 
seal,  at  my  office  in  the  said  city  of  Newr 
[l.  s.]  York,  the  day  and  year  aforesaid. 

Charles  Taylor, 

Commissioner  for  the  State  of  California, 
In  the  State  of  New  York. 


31 


State  of  New  York,  ) 

City  and  County  of  New  York,  j  ss*  * 

Be  it  Remembered,  That  on  this  19th  day  of  No¬ 
vember,  a.  d.  one  thousand  eight  hundred  and 
eighty-nine,  before  me,  a  Commissioner  of  Washington 
Territory  in  and  for  the  State  of  New  York,  residing 
in  the  city  of  New  York,  personally  came  Elijah  Smith, 
President  of  The  Oregon  Improvement  Company,  and 
Prosper  W.  Smith,  the  Assistant  Secretary  of  The 
Oregon  Improvement  Company  the  corporation  de¬ 
scribed  in  the  foregoing  instrument  as  the  party  of  the 
first  part  thereto,  and  who  are  severally  and  respectively 
personally  known  to  me  ;  and  the  said  Elijah  Smith, 
having  been  by  me  duly  sworn,  did  depose  and  say 
that  he  is,  and  at  the  time  of  the  execution  of  the  said 
instrument  was,  the  President  of  said  Company,  and  the 
said  Prosper  W.  Smith,  having  been  duly  sworn,  did 
depose  and  say  that  he  is  and  then  was  the  Assistant 
Secretary  of  the  said  Company  ;  and  the  said  Elijah 
Smith  and  Prosper  W.  Smith  did  severally  and  respect¬ 
ively  depose  and  say  that  they  knew  the  corporate  seal 
of  said  Company,  and  that  the  seal  affixed  to  the  fore¬ 
going  instrument,  as  such,  is  said  corporate  seal ;  that 
the  said  seal  was  so  affixed  by  the  authority  of  the 
Board  of  Directors,  and  that  the  said  Elijah  Smith,  as 
President  aforesaid,  signed,  and  that  he,  the  said  Pros¬ 
per  W.  Smith,  as  Assistant  Secretary  as  aforesaid,  at¬ 
tested,  the  said  instrument  by  like  authority.  And  the 
said  Elijah  Smith,  as  President  as  aforesaid,  at  the 
same  time  acknowledged  the  execution  of  the  said 
instrument  as  the  act  and  deed  of  the  said  Ore¬ 
gon  Improvement  Company,  for  the  uses  and  pur¬ 
poses  therein  expressed.  And  the  said  Elijah  Smith, 
upon  his  oath,  did  depose  and  say  that  he  knows 
the  objects  and  purposes  for  which  the  fore- 


i 


32 


going  mortgage  is  executed  ;  and  that  the  same  is 
made  in  good  faith,  and  without  any  design  to  hinder, 
delay,  or  defraud  creditors.  And  the  said  Prosper  W. 
Smith,  as  Assistant  Secretary  as  aforesaid,  at  the  same 
time  acknowledged  the  said  instrument  as  the  act  and 
deed  of  the  said  Oregon  Improvement  Company  for 
the  uses  and  purposes  therein  expressed  ;  and  the  said 
Prosper  W.  Smith,  upon  his  oath,  did  depose  and  say 
that  he  knows  the  objects  and  purposes  for  which  the 
foregoing  mortgage  is  executed,  and  that  the  same  is 
made  in  good  faith  and  without  any  design  to  hinder, 
delay  or  defraud  creditors. 

In  witness  whereof  I  have  hereunto  subscribed 
my  name  and  affixed  my  official  seal,  at  my 
office  in  the  said  city  of  New  York,  the  day 
[l.  s.]  and  year  aforesaid. 

L.  R.  Kidder, 

Commissioner  for  Washington  Territory, 
in  the  State  of  New  York. 


33 


State  of  New  York,  )  . 

City  and  County  of  New  Yorlc ,  j 

Be  it  Remembered,  That  on  this  19th  day  of  No¬ 
vember,  a.  d.  one  thousand  eight  hundred  and 
eighty-nine,  before  me,  a  Commissioner  of  Washington 
Territory,  in  the  State  of  New  York,  residing  in  said 
city  of  New  York,  personally  came  Rosewell  G.  Rolston, 
President  of  The  Farmers’  Loan  and  Trust  Com¬ 
pany,  the  corporation  described  in  the  foregoing  instru¬ 
ment  as  the  party  of  the  second  part  thereto,  and  who 
is  personally  well  known  to  be  ;  and  he,  being  by  me 
duly  sworn,  did  depose  and  say  that  he  is,  and  at  the 
time  of  the  execution  of  said  instrument  was,  the  Presi¬ 
dent,  and  that  Edwin  S.  Marston  is  and  then  was  the 
Secretary  of  the  said  Company  ;  that  he  knows  the 
corporate  seal  of  said  Company,  and  that  the  seal 
affixed  to  the  foregoing  instrument  as  such  is  said  cor¬ 
porate  seal  ;  that  the  said  seal  was  so  affixed  by  author¬ 
ity  of  the  Board  of  Directors  of  said  Company  ;  and  that 
he,  as  President  aforesaid,  signed,  and  the  said  Edwin 
S.  Marston,  as  Secretary  aforesaid,  attested,  the  said  in¬ 
strument  by  like  authority.  And  the  said  Rosewell  G. 
Rolston,  President  as  aforesaid,  acknowledged  the  exe¬ 
cution  of  said  instrument  as  the  act  and  deed  of  the  said 
Farmers’  Loan  and  Trust  Company,  for  the  uses  and 
purposes  therein  expressed. 

In  witness  whereof  I  have  hereunto  sub¬ 
scribed  my  name  and  affixed  my  offi¬ 
cial  seal,  at  my  office  in  the  said  city  of 
[l.  s.]  New  York,  the  day  and  year  aforesaid. 

L.  R.  Kiddek, 

Commissioner  for  Washington  Territory, 
in  the  State  of  New  York. 


35 


SCHEDULE  OE  PROPERTIES  of  THE  OREGON 
IMPRO  YEMEN  T  COM P  AN  Y  referred  to  ai.d  describe  a 
a?id  incorporated  into  and  made  a  part  of  its  M  01  tgage  or 
Deed  of  Trust  to  THE  FARMERS'  LOAN  AND 
TR  UST  COMP  AN  Y  ( of  New  York),  dated  November  isty 
1889. 


REAL  ESTATE. 


COAL  LANDS,  as  follows  . 

In  the  Newcastle  Coal  District,  in  Washing¬ 
ton  Territory,  Section  26,  Township  24,  North 
of  Range  5  East,  North  half  of  Northwest 
quarter,  Northwest  quarter  of  Northeast 
quarter,  Southeast  quarter  of  Northeast 
quarter,  containing  .  .  .  .  .  160  acres 


In  the  Green  River  Coal  District,  in  Washing¬ 
ton  Territory,  Section  18,  Township  21  North, 
Range  7  East : 

Northeast  quarter  ....... 

East  half  of  Southwest  quarter  .  .  .  . 

Southeast  quarter  ....... 

East  half  of  Northwest  quarter  . 

Lots  1,  2,  3,  4 . 

Section  6,  Township  21  North,  Range  7  East, 
Fractional  lots  13  and  14,  and  the  East  half 

of  Southwest  quarter . 

Fractional  lots  3,  4,  5,  6,  12  . 

Section  4,  Township  21  North,  Range  7  East,  lots 
5  and  12,  and  the  West  half  of  the  Southwest 

quarter . 

Section  12,  Township  21  North,  Range  6  East, 
Fractional  lots  1,  2,  3,  4 


160 

80 

160 

80 

160.96 


*59-52 

i56-65 


l60 

I3I-I5 


Containing  about 


1,248.28  acres 


36 


In  the  Wilkesoil  Coal  District,  in  Washington 
Territory,  Section  16,  Township  18  North, 

Range  6  East  : 

Southeast  quarter  .......  160 

Northeast  quarter  ......  160 

East  half  of  Northwest  quarter  .  .  .  .  80 

Section  28,  Township  18  North,  Range  6  East, 

East  half  of  Northeast  quarter  ...  80 

Section  2,  Township  18,  North,  Range  6  East, 

Southwest  quarter  ......  160 

Lots  3  and  4,  and  the  South  half  of  Northwest 

quarter  ........  160.20 

Southeast  quarter  .......  160 

Lots  1  and  2,  and  the  South  half  of  Northeast 

quarter  ........  159.80 


Containing  about  .  .  .  1,120  acres 

* 

9 

AGRICULTURAL  AND  TIMBER  LANDS  in  Oregon 

and  Washington  Territory,  as  follows  : — 

Range  39  East,  Township  10  North, 

Section  32. 

Premises  commencing  at  the  centre  of  the  race  of 
the  Dayton  Woolen  Manufacturing  Company, 
where  the  South  line  of  the  Southwest  quar¬ 
ter  of  the  Northeast  quarter  crosses  said  race, 
thence  running  East  on  said  line  twenty-eight- 
rods,  thence  Northeasterly  parallel  with  said 
race  twenty  rods,  thence  West  twenty-eight 
rods  to  the  centre  of  said  race,  thence  South 
up  the  centre  of  said  race  twenty  rods  to 
place  of  beginning,  containing  more  or  less  .  3.5 

Also  the  water  flume  running  from  what  is  known 
as  Robertson’s  Mill,  on  the  middle  fork  of 
the  Touchet  River,  down  to  the  vicinity  of 
Dayton,  and  also  the  right  of  way  for  said 
flume  over  and  along  the  lands  over  and  upon 


37 


which  the  same  is  situated,  built,  and  located, 
and  water-rights  connected  therewith. 

Range  39  East,  Township  9  North, 

Section  26. 

North  half  of  Northeast  quarter.  \ 

Southwest  quarter  of  Northeast  quarter.  V  .  .  160 

Northwest  quarter  of  Southeast  quarter.  ) 

Together  with  the  saw-mill  and  other  buildings 
thereon. 

Also  a  right  of  way  for  water  flume  over, 
through,  and  along  Southwest  quarter 
of  Southeast  quarter,  Southeast  quarter  of 
Southwest  quarter  of  Section  34,  Township  9 
North,  Range  39  East,  and  Northwest  quar¬ 
ter  of  Southeast  quarter,  and  Southwest 
quarter  of  Northeast  quarter  of  Section  35, 
Township  9  North,  Range  39  East,  and  West 
half  of  Northwest  quarter  of  Section  n, 
Township  8  North,  Range  39  East,  and  North 
half  of  Southeast  quarter  of  Section  10, 
Township  8  North,  Range  39  East. 

Also  the  right  to  use  a  sufficient  amount  of  water  of 
that  branch  of  the  Touchet  River  running  over, 
through,  along,  or  touching  the  above-de¬ 
scribed  premises  for  all  the  purposes  of  said 
flume. 


Range  39  East,  Township  7  North. 
Section  8. 

Northwest  quarter  . 

Northeast  quarter  . 

Section  5. 

Southeast  quarter  of  Northwest  quarter 
Southwest  quarter  of  Northeast  quarter 
Northeast  quarter  of  Southeast  quarter 

Section  4. 

Northwest  quarter  of  Southwest  quarter 


160 

160 


►  160 


38 


Range  40  East,  Township  8  North. 

Section  28. 

Northeast  quarter  ....... 

Range  39  East,  Township  8  North, 

Section  27. 

•  i 

Northeast  quarter  ....... 

Southeast  quarter  ....... 

Section  26. 

Northwest  quarter  ....... 

Southwest  quarter  ....... 

Section  23. 

Northeast  quarter  .  .  ... 

Southeast  quarter  ....... 

North  half  and  Southeast  quarter  of  Northwest 
quarter  ........ 

Southwest  quarter  of  Northwest  quarter 
Northwest  quarter  of  Southwest  quarter 

Section  22. 

Northeast  quarter  of  Northeast  quarter 
Southeast  quarter  of  Northeast  quarter 
Northeast  quarter  of  Southeast  quarter 

Range  39  East,  Township  7  North. 

Section  9. 

North  half  of  Northeast  quarter  .  .  .  . 

North  half  of  Northwest  quarter  .  .  .  . 

Total  amount  of  land  connected  with  and 
tributary  to  Dayton  Flume  . 


160 


160 

160 

160 

160 

160 

160 

120 

40 

40 


40 

40 

40 


80 

80 


.  2,243.5  acres 


Range  37  East,  Township  5  North. 

Section  36. 

All. 

Section  35. 

Southwest  quarter  of  Northeast  quarter. 
West  half  of  Southeast  quarter. 

Range  37  East,  Township  4  North. 
Section  1. 

West  half  of  Southwest  quarter. 
Northeast  quarter  of  Southwest  quarter. 
South  half  of  Northwest  quarter. 
Southwest  quarter  of  Northeast  quarter. 

Section  2. 

Northeast  quarter  of  Southeast  quarter. 
South  half  of  Northeast  quarter. 

West  half  of  Southeast  quarter. 

North  half  of  Northeast  quarter. 

Range  37  North,  Township  4  East, 
Section  1. 

North  half  of  Northeast  quarter 
North  half  of  Northwest  quarter  . 
Southeast  quarter  of  Northeast  quarter  . 
Southeast  quarter  of  Southwest  quartet  . 
North  half  of  Southeast  quarter 
Section  2. 

East  half  of  Northwest  quarter 

Range  37  North,  Township  5  East, 
Section  35. 

East  half  of  Southwest  quarter  .  , 

North  half  of  Northeast  quartei 
North  half  of  Northwest  quarter 
South  half  of  Northwest  quarter 
West  half  of  Southwest  quarter 
Southeast  quarter . 


Section  81. 

Northwest  quarter  . 
Southwest  quarter  . 


40 


160.83 

160.30 


Total 

Range  40  East,  Township  2  North, 

Section  31. 

Southwest  quarter  . 

Southeast  quarter . 

Range  39  East,  Township  2  North, 
Section  36. 

All 

i  ^  XX*  .  .  .  .  .  .  • 

Section  25. 

Southwest  quarter  . 

Southeast  quarter  . 

Section  35. 

South  half  of  Northwest  quarter 
West  half  of  Southwest  quarter 
East  half  of  Southeast  quarter 

Section  34. 

Northeast  quarter . 

Range  39  East,  Township  3  North, 
Section  2. 

North  half  of  Northeast  quarter 
North  half  of  Northwest  quarter 


2,507.66  acres 


320 


640 


} 


320 


160 


Section  1. 

North  half  and  Southwest  quarter  of  Northeast  ) 

quarter . V  280 

Northwest  quarter 


Range  38  East,  Township  3  North, 

Section  27. 

North  half  and  Southeast  quarter  of  Northeast  'J 

quarter  .  . 

Northeast  quarter  of  Southwest  quarter  .  .  f 

1 

North  half  of  Southeast  quarter  .  .  J 


41 


Southwest  quarter  of  Northeast  quarter  .  .  ) 

North  half  and  Southeast  quarter  of  Northwest  >  160 

quarter . ) 

Section  26. 

Northeast  quarter  ...... 

Northwest  quarter  ...... 

Southwest  quarter  ......  [^  600 

Northeast  quarter  and  Northwest  quarter  and 
Southwest  quarter  of  Southeast  quarter  . 


Total  of  Grande  Ronde  Valley  Lands 


31  i3.96!'acres 


Range  36  East,  Township  9  North. 

Section  4. 

Northeast  quarter  of  Northwest  quarter  .  .  40 

Range  36  East,  Township  10  North. 

Section  33. 

East  half  of  Southwest  quarter.  .  .  .  .80 

Southeast  quarter  of  Northwest  quarter  .  .  .40 

•  Commencing  at  the  Northeast  corner  of  Southeast 
quarter  of  Northwest  quarter  of  Section  33, 
running  thence  East  711.6  feet  along  the  North 
boundary  of  the  Southwest  quarter  of  North¬ 
east  quarter,  thence  South  5,202  feet  along  a 
line  parallel  with  the  quarter-section  line  divid¬ 
ing  said  Section  33  into  East  and  West  halves 
to  the  South  line  of  the  Northwest  quarter  of 
the  Northeast  quarter  of  Section  4,  Township 
9  North,  Range  36  East,  thence  West  on  said 
last-named  line  to  the  centre  of  the  main  chan¬ 
nel  of  the  Touchet,  thence  Southerly  and  West¬ 
erly  along  the  centre  of  the  main  channel  of 
the  Touchet  to  the  West  line  of  the  Northeast 
quarter  of  said  Section  4,  thence  North  on  said 
line  about  250  feet  to  the  Southwest  corner  of 
Northwest  quarter  of  Northeast  quarter  of 
said  Section  4,  thence  still  North  from  said 
corner  5,202  feet  to  the  place  of  beginning, 
containing  .......  87  acres. 


42 


Also,  commencing  at  a  point  711.6  feet  East  and 
400  feet  North  of  the  Southeast  corner  of 
Southwest  quarter  of  said  Section  33,  Town¬ 
ship  io  North,  Range  36  East,  running 
thence  North  2,105  feet  to  the  South  line  of 
Fourth  Street,  in  the  town  of  Prescott,  thence 
East  along  said  South  line  extended  Easterly 
800  feet,  thence  South  2,105  feet,  thence  West 
800  feet  to  place  of  beginning,  containing  .  36.62 

excluding  right  of  way  granted  to  Oregon 
Railway  and  Navigation  Company. 

Range  43  East,  Township  16  North. 

Section  21  ......  640 

Section  9. 

Southwest  quarter  (quit-claim)  ....  160 

Range  8  East,  Township  3  North. 

Section  36. 

Lots  1,  2,  3,  4. 

“  Also  undivided  half-interest  in  water-ditch  and 
water  therein  for  irrigating  and  burning  pur¬ 
poses,  constructed  from  and  to  convey  the 
waters  of  Throssel  Creek  from  a  point  in 
Section  1,  Township  2  North,  Range  8  East, 
to  any  part  or  upon  any  part  of  lots  1,  2,  3,  4, 

Section  36,  Township  3  North,  Range  8  East.” 

MISCELLANEOUS  REAL  ESTATE,  as  follows: 

All  those  two  certain  city  blocks,  with  the  improvements 
thereon,  numbered  and  known  as  Block  five  (5)  and  block  six  (6), 
in  South  Beach  addition,  in  the  City  of  San  Francisco,  California, 
which  said  blocks  are  bounded  as  follows  :  Block  five  (5),  on  the 
Northerly  side  by  Beale  Street,  Easterly  by  Brannan  Street, 
Southerly  by  Fremont  Street,  and  Westerly  by  Bryant  Street  ; 
block  six  (6),  on  the  Northerly  side  by  Fremont  Street,  Easterly 
by  Brannan  Street,  Southerly  by  First  Street  and  Westerly  by 
Bryant  Street  ;  together  with  the  improvements  and  all  water  and 
other  rights  and  easements  connected  therewith. 


i 


43 

All  those  certain  leasehold  premises  at  Oakland,  California, 
known  as  the  Wharf  property  and  Coal  Pocket  of  The  Oregon 
Improvement  Company,  at  the  foot  of  Franklin  Street,  together 
with  the  structures  and  improvements  thereon,  and  all  rights 
and  easements  connected  therewith,  and  all  renewals  and  exten¬ 
sions  of  said  lease. 

All  those  certain  leasehold  premises  at  Albina,  Oregon,  known 
as  the  Wharf  and  Coal  Bunkers  of  the  Oregon  Improvement 
Company,  being  the  property  of  The  Northern  Pacific 
Terminal  Company,  of  Oregon,  and  referred  to  and  described 
in  that  said  Indenture  of  Lease  between  said  last-named  Com¬ 
pany  and  The  Oregon  Improvement  Company,  dated  March 
2d,  1885,  and  all  rights  and  easements  connected  therewith,  and 
all  renewals  and  extensions  of  said  lease. 

All  those  certain  leasehold  premises  at  Portland  Oregon,  known 
as  the  Wharf  and  Dock  property  and  Coal  Pockets  or  Coal 
Bunkers  of  The  Oregon  Improvement  Company,  being  a  por¬ 
tion  of  the  river-front  property  of  The  Oregon  Railway  and 
Navigation  Company,  and  referred  to  and  described  in  that 
certain  Indenture  of  Lease  between  said  last-named  Company 
and  The  Oregon  Improvement  Company,  dated  October  first, 
1884,  with  the  structures  and  improvements  thereon,  and  all 
rights  and  easements  connected  therewith,  and  all  renewals  and 
extensions  of  said  lease. 

All  those  certain  leasehold  premises  at  Astoria,  Oregon,  known 
as  the  Coal  Pockets  or  Coal  Bunkers  of  The  Oregon  Improve¬ 
ment  Company  being  a  portion  of  the  Wharf  and  Dock  property 
of  The  Oregon  Railway  and  Navigation  Company,  and 
referred  to  and  described  in  that  certain  Indenture  of  Lease 
between  said  last-named  Company  and  The  Oregon  Improve¬ 
ment  Company  dated  October  1st,  1884,  with  the  structures  and 
improvements  thereon,  and  all  rights  and  easements  connected 
therewith,  and  all  renewals  and  extensions  of  said  lease. 

All  those  certain  Town  lots,  about  four  hundred  and  thirty  (430) 
in  number,  together  with  all  improvements  thereon,  in  the  Town 
of  Prescott,  Walla  Walla  County,  Washington  Territory. 


44 


* 


PERSONAL  PROPERTY. 

Steamships  and  Vessels. 

Those  four  (4)  certain  American  Steamships,  known  respec¬ 
tively  as  the  “Willamette,”  the  “Walla  Walla,”  “  Umatilla,’* 
and  the  “  Corona,”  together  with  their  masts,  sails,  boats,  anchors, 
cables,  boilers,  engines,  machinery,  tackle,  apparel,  furniture, 
supplies  and  all  other  appurtenances  of  said  steamships  respec¬ 
tively,  of  which  steamships  The  Oregon  Improvement  Com¬ 
pany  is  the  sole  owner,  and  the  respective  Certificates  of  Enroll¬ 
ment  of  said  steamships,  are  as  fellows  : — 


Certificate  No. 

Official  Number. 

6. 

Numerals. 

Letters.. 

80839. 

JVLP . 

The  United  States  of  America. 

Sec.  4319,  Rev.  Stats.  Catalogue  No.  338. 

(permanent.) 


CERTIFICATE  OF  ENROLLMENT. 

Enrollment. — In  conformity  to  Title  L,  “  Regulation  of  Vessels 
in  Domestic  Commerce,”  of  the  Revised  Statutes  of  the  United 
States,  J.  M.  Fox,  Secretary  of  the  Oregon  Improvement  Co.,  of 
Portland,  Oregon,  having  taken  and  subscribed  the  oath  required 
by  law,  and  having  sworn  that  the  Oregon  Improvement  Co.,  of 
Portland,  Oregon,  is  the  sole  owner  of  the  ship  or  vessel  called 
the  “  Walla  Walla ,”  of  Portland,  Oregon,  whereof  L.  L.  Sim¬ 
mons  is  at  present  master,  and  is  a  citizen  of  the  United  States, 
and  that  the  said  ship  or  vessel  was  built  at  Chester,  State  of 
Pennsylvania,  in  the  year  1881,  as  appears  by  Permanent  Enroll¬ 
ment  No.  1,  issued  at  this  port  July  10,  1884,  now  surrendered, 
officers  of  Company  changed,  and  said  Enrollment  having  certi¬ 
fied  that  the  said  ship  or  vessel  has  two  decks,  and  two  masts, 
and  that  her  length  is  three  hundred  and  ten  feet  ;  her  breadth, 
forty  feet  ;  her  depth,  twenty-four  and  T3¥  feet ;  her  height 

that  she  measures  twelve  hundred  and  thirty-nine 
and  T°  9  tons,  viz.  : 


45 


Capacity  under  tonnage  deck  .... 

Tons. 

2005 

IOOths. 

•91 

Capacity  between  decks  above  tonnage  deck 

Capacity  of  inclosures  on  the  upper  deck,  viz.  : 

128 

.89 

Gross  tonnage  .... 

2134 

.80 

Deductions  under  Section  4153,  Revised  Statutes, 

as  amended  by  Act  of  August  5,  1882 

895 

.71 

Net  tonnage  ..... 

I239 

.09 

that  the  following  described  spaces,  and  no  others,  have  been 
omitted,  viz.  : 

and  that  she  is  a  ,  has  a  plain 

head  and  a  round  stern,  and 

sufficient  security  having  been  given,  according  to  the 
said  Title,  the  said  ship  or  vessel  has  been  duly  enrolled  at  the 
port  of  Portland,  Oregon. 

Given  under  my  hand  and  seal  at  the  port  of  Portland,  Oregon 
in  the  District  of  Willamette,  this  25th  day  of  August,  in  the  year 
one  thousand  eight  hundred  and  eighty-five. 

(Signed)  B.  E.  LIPPENCOTT, 

Collector  of  Customs . 


Certificate  No.  Official  Number. 

23.  Numerals.  Letters . 

80808.  J  VD  T. 

The  United  States  of  America. 

Sec.  4319,  Rev.  Stats.  Catalogue  No.  338. 

(permanent). 

CERTIFICATE  OF  ENROLLMENT. 

Enrollment. — In  conformity  to  Title  L,  “  Regulation  of  Ves¬ 
sels  in  Domestic  Commerce,”  of  the  Revised  Statutes  of  the 
United  States,  J.  M.  Fox,  Secretary  Oregon  Improvement  Co., 
having  taken  and  subscribed  the  oath  required  by  law,  and 


46 


having  sworn  that  the  Oregon  Improvement  Co.  [a  corporation], 
of  Portland,  Oregon,  is  the  owner  of  the  ship  or  vessel  called  the 
“  Willamette ,”  of  Portland,  Oregon,  whereof  L.  L.  Simmons  is 
at  present  master,  and  is  a  citizen  of  the  United  States,  and  that 
the  said  ship  or  vessel  was  built  at  Chester,  State  of  Pennsyl¬ 
vania,  in  the  year  1881,  as  appears  by  Permanent  Enrollment  No. 
10,  issued  at  the  port  of  Portland,  Oregon,  January  5,  1885,  now 
surrendered,  officers  of  Company  changed,  and  said  Enrollment 
having  certified  that  the  said  ship  or  vessel  has  two  decks  and 
two  masts,  and  that  her  length  is  three  hundred  and  fifteen  and 
feet ;  her  breadth,  thirty-nine  and  T2^  feet  ;  her  depth,  twenty- 


one  and  t8¥  feet  ;  her  height 


that  she  meas- 


Capacity  under  tonnage  deck 

Capacity  between  decks  above  tonnage  deck 


Gross  tonnage 

uctions  under  Section  4153,  Revised  St 
as  amended  by  Act  of  August  5,  1882 

Net  tonnage 


omitted,  viz.: 

and  that  she  is  an  iron  steamship,  has  a  plain  head  and  a  round 
stern,  and 

sufficient  security  having  been  given,  according  to  the  said  Title, 
the  said  ship  or  vessel  has  been  duly  enrolled  at.  the  port  of 
Portland,  Oregon. 

Given  under  my  hand  and  seal  at  the  port  of  Portland,  Ore¬ 
gon,  in  the  District  of  Willamette,  this  29th  day  of  June,  in  the 
year  one  thousand  eight  hundred  and  eighty-five. 


tons,  viz.: — 

Tons. 

lOOths. 

212  1 

.19 

:  441 

*°5 

2562 

.24 

tes. 

866 

.88 

i695 

•36 

others,  have 

been 

(Signed) 


B.  E.  LIPPENCOTT, 

Dep.  Collector  of  Custo?ns. 


Certificate  No. 


47 


Official  Number. 
Numerals.  Letters. 

2  524.2.  JVRT. 


(The  United  States  of  America.) 

Sec.  43 IQ,  Rev.  Stats.  Catalogue  No.  338. 

(permanent.) 

CERTIFICATE  OF  ENROLLMENT. 

Enrollment. — In  conformity  to  Title  L,  “  Regulation  of  Ves¬ 
sels  in  Domestic  Commerce,”  of  the  Revised  Statutes  of  the 
United  States,  C.  H.  Prescott,  President  of  the  Oregon  Improve¬ 
ment  Co.,  of  Portland,  Oregon,  having  taken  and  subscribed  the 
oath  required  by  law,  and  having  sworn  that  the  Oregon  Im¬ 
provement  Co.,  of  Portland,  Oregon,  is  the  sole  owner  of  the  ship 
or  vessel  called  the  “Umatilla,"  of  Portland,  Oregon,  whereof 
Frank  Worth  is  at  present  master,  and  is  a  citizen  of  the  United 
States,  and  that  the  said  ship  or  vessel  was  built  at  Chester,  State 
of  Pennsylvania,  in  the  year  1881,  as  appears  by  Permanent  En¬ 
rollment  No.  31,  dated  at  the  District  of  Willamette,  April  first, 
1882,  now  surrendered,  officers  of  Company  changed,  and  vessel 
re-admeasured,  and  A.  N.  Gambell,  Special  Surveyor,  having 
certified  that  the  said  ship  or  vessel  has  two  decks  and  two  masts, 
and  that  her  length  is  three  hundred  and  ten  feet ;  her  breadth, 
forty  and  ^  feet ;  her  depth,  twenty-two  and  T3^  feet  ;  her 
height, 

that  she  measures  thirteen  hundred  and  thirty-five  and  tons, 
viz.  : — 


Capacity  under  tonnage  deck  . 

•  • 

Tons. 

2005 

lOOths. 

.91 

Capacity  between  decks  above  tonnage  deck  . 
Capacity  of  inclosures  on  the  upper  deck,  viz.  : 

I25 

•58 

Gross  tonnage 

•  • 

21 31 

.49 

Deductions  under  Section  4153,  Revised 
as  amended  by  Act  of  August  5,  1882 

Statutes, 

•  • 

795 

1 

00 

Net  tonnage  . 

t 

I335 

.62 

Net  tonnage  . 


48 


that  the  following-described  spaces,  and  no  others,  have  been 
omitted,  viz.  : 

and  that  she  is  an  iron  steamship  [propeller],  has  a  plain  head 
and  a  round  stern  ;  and  the  said  C.  H.  Prescott  having  agreed 
to  the  description  and  measurement  above  specified,  and  suf¬ 
ficient  security  having  been  given,  according  to  the  said  Title, 
the  said  ship  or  vessel  has  been  duly  enrolled  at  the  port  of  Port¬ 
land,  Oregon. 

Given  under  my  hand  and  seal  at  the  port  of  Portland,  Oregon, 
in  the  District  of  Willamette,  this  27th  day  of  March,  in  the  year 
one  thousand  eight  hundred  and  eighty-three. 

(Signed)  B.  E.  LIPPENCOTT, 

Dep.  Collector  of  Customs. 


Register  No.  15. 
Temporary. 


Official  Number, 
126,522  K.  G.  B.  H. 

COPY  OF 


CERTIFICATE  OF  REGISTRY. 


In  pursuance  of  Chapter  One,  Title  XLVIII,  “Regulation  of 
Commerce  and  Navigation,”  Revised  Statutes  of  the  United  States, 
C.  M.  Goodall,  Agent,  of  San  Francisco,  Cal.,  having  taken  and 
subscribed  the  oath  required  by  law,  and  having  sworn  that  The 
Oregon  Improvement  Company  of  Portland,  Oregon,  are  the  only 
owners  of  the  vessel  called  the  Corona  of  Portland,  Oregon, 
whereof  C.  M.  Goodall  is  at  present  master,  and  is  a  citizen  of 
the  United  States  ;  and  that  the  said  vessel  was  built  in  the  year 
1888,  at  Philadelphia,  Pa.,  as  appears  by  Carpenter’s  Certificate 
on  file;  and  Hon.  Jno.  M.  Campbell,  Surveyor,  having  certified 
that  the  said  vessel  has  three  decks  and  two  masts,  and  that  her 
length  is  two  hundred  and  twenty  and  75-iooths  feet,  her  breadth 
thirty-five  feet  and  two-tenths,  her  depth  fifteen  feet  and 
75-iooths  ;  that  she  measures  nine  hundred  and  sixty-six  tons 
and  19-iooths,  viz.  : 


49 


Tons.  lOOths. 


Capacity  under  tonnage  deck .  877  52 

Capacity  between  decks  above  tonnage  deck .  443  23 


Capacity  of  inclosures  on  the  upper  deck,  viz.  : 

Fd.  Dk,  House  140.10,  Aft.  Dk.  H.  31.35  ....  171  44 


Gross  Tonnage .  1492  20 


Deductions  under  Section  4153  Revised  Statutes, 
as  amended  by  Act  of  August  5,  1882.  526.01 


Total  Deductions .  526  01 

Net  Tonnage .  966  19 


The  following  described  spaces,  and  no  others,  have  been 

omitted,  viz.  :  . 

and  that  she  is  a  steel  screw  steamship,  has  a  stem  head  and  a 
round  stern  ;  and  the  said  C.  M.  Goodall,  Agent,  having  agreed 
to  the  description  and  admeasurement  above  specified,  and  suffi¬ 
cient  security  having  been  given  according  to  law,  said  vessel  has 
been  duly  registered  at  the  Port  of  Philadelphia. 

Given  under  my  hand  and  seal,  at  the  Port  of  Philadelphia, 
this  27th  day  of  October,  in  the  year  one  thousand  eight  hundred 
and  eighty-eight. 

(Signed)  JOSEPH  POWELL, 

D'y  Collector  of  Customs. 

(Signed)  HENRY  B.  PLUMMER, 

Naval  Officer. 

(Signed)  JARVIS  PATTEN, 

Commissioner  of  Navigation. 


That  certain  Coal  Barge,  known  as  the  “  Seattle, ”  having 
a  capacity  of  350  tons,  with  her  appurtenances  and  belongings. 


50 


Shares  of  Stock  of  Other  Corporations,  as  follows  : 

19,850  Shares  of  the  Capital  Stock  of  the  Pacific  Coast 
Steamship  Company,  par  value  one  hundred  dollars  each.  Total 
capital,  20,000  shares. 

(The  Pacific  Coast  Steamship  Company  is  a  corporation 
created  and  existing  under  the  laws  of  California.  Its  total  capital 
stock  is  20,000  shares.  It  has  no  bonded  or  other  debt,  other 
than  its  usual  and  current  traffic  and  equipment  expenses.  It  is 
the  sole  owner  of  the  following  Steamships  and  vessels  : — 


Name. 

Queen  of  the  Pacific, 
State  of  California, 
Santa  11  os  a, 

Idaho, 

Eureka, 

Los  Angeles, 

Bonita, 

Santa  Cruz, 
Newport, 

Gipsy, 

Alexander  Duncan, 
Yaquina, 

Alki, 

Coos  Bay, 

It  also  owns, 


Description. 

Iron  Steamship, 

4<  U 

U  <4 

Screw  wooden  Steamer, 


a 

a 

li 

it 

it 

it 

a 

a 

a 

u 

a 

it 

a 

a 

a 

it 

a 

a 

a 

a 

a 

a 

(( 

u 

a 

«< 

a 

tt 

li 

a 

Tonnage. 

2727.80 

2206 

1335.60 

1077.13 

689.27 

493 

488.87 

511.22 

2^5-94 

293.80 

371.53 
555.67 
943 
31  T*27 


1934  shares  of  the  Capital  Stock  of  the  Santa  Maria  and 
Los  Angeles  Chute  Landing  Company.  Total  Capital,  200 

shares  of  $50  each. 

67  shares  of  the  Capital  Stock  of  The  San  Buenaventura 
Wharf  Company,  Total  Capital,  200  shares  of  $ico 
each. 

137  shares  Hotel  Ramona,  at  San  Luis  Obispo,  California, 
and  also,  wharf  boats,  supplies,  equipment,  tools,  machinery,  &c. 

Ten  (10)  Warehouses  on  Pacific  Coast  Railway  lines,  and 
eleven  (n)  along  California  Coast  and  other  real  estate,  the 
record  title  to  which  stands  in  its  name.) 


51 


i3,7°4  Shares  of  the  Capital  Stock  of  the  Pacific 
Coast  Railway  Company.  Total  Capital,  13,704  Shares  of 
$100  each. 

(The  Pacific  Coast  Railway  Company  is  a  railroad  cor¬ 
poration,  created  and  existing  under  the  laws  of  California, 
owning  and  operating  a  narrow-guage  railroad  76  miles  in 
length,  running  from  Port  Harford  via  San  Luis  Obispo, 
Arroya  Grande,  and  Santa  Maria,  to  Los  Olivos,  and  owning 
engines,  rolling  stock,  equipment,  and  other  properties 
necessary  and  convenient  for  its  business  and  operations. 
Its  bonded  debt  is  $1,370,000,  represented  by  its  First 
Mortgage  6 %  Gold  Bonds,  all  of  which  are  owned  by  The 
Oregon  Improvement  Company.  It  has  no  other  debt, 
except  its  current  traffic  obligations.) 

10,000  Shares  of  the  Capital  Stock  of  The  Columbia 
and  Puget  Sound  Railroad  Company.  Total  Capital,  10,000 
Shares  of  $100  each. 

(The  Columbia  and  Puget  Sound  Railroad  Company  is 
a  railroad  corporation,  created  and  existing  under  the  laws 
of  Washington  Territory,  owning  and  operating  a  railroad, 
twenty  miles  in  length,  from  Seattle,  Washington  Territory, 
to  the  Newcastle  Coal  Mines,  with  a  branch,  twenty-three 
miles  in  length,  known  as  the  Cedar  River  Extension,  from 
Renton  to  the  Green  River  Coal  Fields.  It  has  no  bonded 
or  other  debt,  except  its  current  traffic  obligations.  It  also 
owns  engines,  rolling  stock,  equipment,  and  other  properties 
necessary  and  convenient  for  its  business  and  operations, 
including  coal  wharves,  coal  bunkers,  and  facilities  for  hand¬ 
ling  coal  ;  and  also  wharves,  town  lots,  and  other  valuable 
real  estate  in  Seattle  and  elsewhere  in  Washington 
Territory.) 

30,000  Shares  of  the  Capital  Stock  of  the  Seattle 
Coal  and  Transportation  Company.  Total  Capital,  30,000 
Shares  of  $100  each. 

(The  Seattle  Coal  and  Transportation  Company  is  a 
trading  corporation  created  and  existing  under  the  laws  of 


52 


Washington  Territory.  It  owns  the  town  of  Newcastle, 
Washington  Territory,  and  the  Newcastle  and  Coal  Creek 
Coal  Mines,  with  about  1160  acres  of  coal  lands), 

Bonds  of  Other  Corporations. 

1370  Bonds  for  $1,000  each  of  The  Pacific  Coast  Kailway 
Company,  being  the  entire  mortgage  debt  of  said  company. 
Said  bonds  bear  date  November  1st,  1882,  mature  September 
1st,  1922  ;  the  principal  and  semi-annual  interest,  at  the  rate  of 
6  being  payable  in  gold. 

The  Oregon  Improvement  Company,  for  the  purpose  of 
identifying  the  foregoing  Schedule  as  a  part  of  its  certain 
mortgage  to  The  Farmers’  Loan  and  Trust  Company, 
has  hereunto,  and  unto  nine  other  duplicate  originals  hereof, 
affixed  its  corporate  seal,  and  has  caused  the  same  to  be 
attested  by  its  Assistant  Secretary,  this  first  day  of  November, 
a.  d.  1889. 

Attest  : 

[seal.]  P.  W.  Smith, 

Assistant  Secretary. 


In  presence  of 

W.  J.  Flesher, 

A.  W.  Hornung, 
C.  E.  Bond. 


